Mozambican state takes part in projects in the Accelerated Economic Development Zones

7 November 2012

The Mozambican state plans to take part in large development projects across a range of sectors to be implemented in the Accelerated Economic Development Zones, according to Mozambican news agency AIM.

The Accelerated Economic Development Zones cover the special economic Zones of Nacala, in the northern province of Nampula, and of Manga-Mungassa, in Sofala (central Mozambique), which was recently set up, as well as the Beluluane Duty Free Zone, in Maputo province, whish is the location of the Mozal aluminium foundry.

Since 2009, the Nacala Special Economic Zone has ahs 50 projects approved, totalling investment of US$1.2 billion.

In Manga-Mungassa, which was established in May of this year, a number of investment projects are being looked into worth US$500 million, specifically by China’s Dingsheng International Investment Company.

In order to make it easier for the state to be involved in these zones, the Office for Accelerated Economic Development Zones (Gazeda) and state stake-holding company IGEPE signed a memorandum of understanding in Maputo.

Government participation is above all intended to offer investors more security, and increasing the State’s stake in the projects will also ensure more revenues for Mozambique. (macauhub)