Mozambique returns to economic growth, President says

15 June 2017

Mozambique is showing clear signs of overcoming the obstacles it has faced for some time, the President of the Republic said on Wednesday in Washington, noting that the country has returned to economic growth and development.
Filipe Nyusi made the assertion in his speech at the opening of the XI Biennial US-Africa Business Summit held in the US capital, with 700 participants including government officials, economic agents and financial institutions.
Cited by the AIM news agency, Nyusi said that Mozambique’s economy had returned to growth following the discovery of natural resources of great economic value, such as natural gas and coal, whose exploration involves US companies.
The Mozambican President underscored the recent official launch in Maputo of the Coral Sul liquefied natural gas production project financed by 15 international banks.
Nyusi recalled that the US is a strategic partner in this sector, and said he believed that US investment could make Mozambique one of the largest producers of natural gas in the world, both upstream and throughout its value chain.
The President of Mozambique on Tuesday ends a three-day working visit to the United States of America, seen as an opportunity to strengthen political, economic and business relations.
Nyusi’s visit to the United States is the second in a little less than a year, as in September 2016 he was in the country on a working visit ahead of attending the United Nations General Assembly. (macauhub)