Shanghai businesspeople plan to invest US$5 billion in Mozambique

24 August 2010

Maputo, Mozambique, 24 Aug – The Shanghai businesspeople that have been in Mozambique since last Thursday have said they are interested in making investments in Mozambique totalling a potential US$5 billion, a spokesperson told Macauhub in Maputo.

Last Friday, the 16-strong delegation met with ministers from the areas of the economy, including the minister for Planning and Development, Aiuba Cuereneia and were later received by the Prime Minister, Aires Ali.

“The members of the delegation showed interest in investing US$5 billion over the next five years,” said the spokesperson, who noted that “in the following five years they want to invest a further US$5 billion.”

According to the spokesperson, the businesspeople are expected to ask the Mozambican government to provide an area of 20 square kilometres in the district of Magude, Maputo province, to set up around 400 companies in several sectors, including the automotive sector, textiles, light industry, technology and research centres.

The delegation, Macauhub also learned, also discussed the possibility of building a city in the Catembe area, which they visited last Saturday.

The municipality of Maputo is building a bridge linking the city of Maputo to the Catembe area on the other side of Maputo bay.

The city to be built in Catembe would include residential and office buildings, shopping centres, hospitals and gymnasiums, amongst other facilities.

Macauhub also learned that at the meeting with members of the Mozambican government the issue of a direct air link between Shanghai and Maputo was also discussed.

The spokesperson told Macauhub that two Chinese airlines were prepared to launch links between Mozambique and China, and were currently waiting for the result of bureaucratic procedures, although they said they did not know the identity of the companies.

The Shanghai businesspeople are due to visit the districts of Magude, in Maputo province, and of Cokwé, in Gaza province, as well as the Maluana technological centre, in Manhiça, Maputo province.

China has been one of Mozambique’s partners over the last few years, taking one of the top spots in terms of investments by Chinese companies in the country. (macauhub)