Shandong Province, China, plans to increase investment in Mozambique

23 May 2016

The province of Shandong, China, plans to increase investment in Mozambique, estimated at over US$200 million to date, said the provincial governor, Guo Shuqing, according to Mozambican newspaper Notícias.

Upon receiving Friday in Jinan, the capital of Shandong, the President of Mozambique, Filipe Nyusi, the governor said that in 2015 Chinese companies in the province had invested over US$140 million in Mozambique, taking total investment to over US$200 million.

Guo Shuqing said that as a sign of the interest of Chinese companies, a commercial and official mission headed by the provincial deputy governor would visit Mozambique soon to deepen existing cooperation.

President Nyusi, who Friday ended a state visit to China, said Thursday in Beijing that hosting of the Mozambique-China Business Forum clearly expressed the will of both countries to strengthen bilateral economic cooperation.

The forum organised by the China Council for the Promotion of International Trade and the Mozambican Embassy in Beijing, was the second in which the President of Mozambique took part on his trip to China after another held on Tuesday in the city of Nanjing, capital of Jiangsu province, which was attended by about 70 Mozambican businesspeople that accompanied the official delegation.

At the Beijing forum, Nyusi stressed that economic relations between the two countries had seen a major boost in the new millennium due to an increase in Chinese investment, and this was proven by the fact that in the last five years Mozambique approved 92 Chinese direct investment projects worth that Mozambique has approved over the past five years 92 investment projects worth US$823 million.

On Thursday, the President of Mozambique was also received by Chinese Prime Minister Li Keqiang, who restated a previous commitment from President Xi Jinping that China intends to cooperate with Mozambique on its industrial capacity. (macauhub/CN/MZ)