Shanghai entrepreneurs indicate readiness to invest US$5 billion in Mozambique

23 August 2010

Maputo, Mozambique, 23 Aug – A group of Chinese businessmen visiting Maputo since last Thursday have expressed interest in investing up to US$5 billion in Mozambique, an official source told Macauhub in Maputo.

The 16-member Shanghai business delegation held a closed-door meeting on Friday with ministers responsible for economic areas, among them Planning and Development Minister Aiuba Cuereneia, and was later received by Prime Minister Aires Ali.

“The delegation’s members showed interest in investing US$5 billion over the next five years,” said the source, adding that “in the five subsequent years they want to invest a further US$5 billion.”

The Chinese entrepreneurs are likely to request from the Mozambican government the concession of a 20 square km area in the Magude district of Maputo province to install around 400 companies specialising in various areas, among them vehicle production, textiles and light industry, as well as technology and research centres, the source said.

Macauhub learned that the delegation may have discussed the possibility of building a city in the Catembe region, an area they visited last Saturday.

The Maputo municipality is working on a project to build a bridge connecting the Mozambican capital to Catembe on the other side of Maputo Bay.

The city planned for Catembe will include housing units and offices, shopping centres, hospitals and gymnasiums, among others.

The meeting with members of the Mozambican government also served to discuss the question of a direct air link between Shanghai and Maputo.

The source told Macauhub that two unidentified Chinese companies are ready to begin connecting Mozambique and China, and that the respective bureaucratic procedures were already under way.

The Shanghai business delegation’s agenda for its stay in Mozambique includes visits to the districts of Magude in Maputo province and Chokwe in Gaza province, as well as the Maluana technology centre in the Manhiça district of Maputo province.

China has been one of Mozambique’s most important partners in recent years, with Chinese companies occupying a leading position with respect to investments in the country. (macauhub)