Mozambique to sign framework agreement on investment with Japan

30 May 2013

Mozambique and Japan are this week in Yokohama, Japan, due to sign a framework agreement on investments in the energy and mining sectors, Mozambican daily newspaper Notícias reported.

The agreement, which will be signed as part of the 5th Tokyo International Conference on African Development (TICAD V), to be held from 1 to 3 June, is intended to drive greater Japanese investment in the energy and mining sector in Mozambique.

According to Notícias, this is the second agreement of its kind Japan has signed with an African country, and the first was signed with Egypt in 1978.

Whilst in Yokohama, as well as taking part in TICAD V, the Mozambican President will lead his country’s delegation in a meeting with the Japanese government, meet with Japanese businesspeople and visit the African Fair, held in Yokohama with the participation of 49 countries.

Mozambique will take part in the fair with a stand where it will promote investments in the Special Economic Areas of Nacala and Manga-Mungassa and the Beluluane Industrial Area, in Matola.

Cape Verde’s Prime Minister, José Maria Neves, is also due Thursday to travel to Japan to take part in TICAD V, and will use the trip to meet with Japanese businesspeople in the fishing sector, according to the Cape Verdean press.

The prime Minister said that these meeting were intended to develop a platform for fishing “so we can build up a greater dynamic of growth and more employment on the island of São Vicente.”

TICAD V marks the 20th anniversary of cooperation between Japan and Africa and is co-organised by the Japanese government, the United Nations, the World Bank, the United Nations Development Programme and the African Union.

The first meeting took place in 1993 and, as well as all the African nations, the event also welcomes members from guest States, international organisations, observers and members of civil society. (macauhub)