Maputo hosts business forum gathering entrepreneurs from India and Mozambique

4 July 2013

A Mozambique/India business forum is being held this Thursday and Friday in Maputo, in the scope of a two-day working visit to Mozambique by Indian Foreign Minister Preneet Kaur, the Mozambican Investment Promotion Centre has announced.

Framed by the third session of the Mozambique/India Joint Committee, the business forum aims to promote and stimulate the development of economic relations between the two countries and to transmit the image of Mozambique and its undertakings as an appealing and privileged destination for investment.

The Investment Promotion Centre indicated that the Indian delegation comprised 22 government representatives and businessmen. They are looking at investment opportunities found in various economic sectors, especially agriculture, construction, water resources, energy and technologies.

The Indian press reported that Indian companies are interested in exploiting the potential of Mozambique’s expanding energy sector, mainly coal and natural gas, where India already marks some presence.

Last June the state groups Oil and Natural Gas Corporation (ONGC) and Oil India Ltd (OIL) agreed to pay US$2.48 billion for the stake of the likewise Indian Videocon Industries in the Area 1 oil bloc in northern Mozambique’s Rovuma Basin. (macauhub)