United Arab Emirates announces intention to invest in Mozambique

21 November 2017

The United Arab Emirates (UAE) want to make large investments in Mozambique in various areas, such as agriculture, mineral resources and transport and communications, said on Monday in Maputo the ambassador of the Arab country.

Asim Al Rahmah, who was speaking during the official opening ceremony of the embassy of the United Arab Emirates in Mozambique, said that the act “marks the beginning of a new impetus for economic cooperation between the two countries.”

The ambassador stressed that to ensure that the investments can be a reality, the two countries recently signed some agreements, in particular on the promotion and reciprocal protection of investments and to avoid double taxation on income and tax evasion.

Quoted by Mozambican news agency AIM, Asim Al Rahmah mentioned within the framework of bilateral cooperation the project for construction of a training centre in the southern province of Inhambane, which will provide vocational courses, costing US$2.5 million.

Also within the context of cooperation, negotiations are underway between the DP World group and the Government of Mozambique to boost the port of Nacala, in the northern province of Nampula.

The ambassador also said that airline Emirates will begin direct flights to Mozambique in transportation and logistics, which, he said, will boost trade and investment for the benefit of both countries. (macauhub)