Mozambican government still looking for investors for Textáfrica textile factory

10 October 2019

A two-day meeting to present the proposal for the creation of the Soalpo Special Economic Zone (ZEES) closes on Thursday in the city of Chimoio, capital of the province of Manica, central Mozambique, reported Mozambican newspaper Notícias.

The initiative promoted by the Investment and Export Promotion Agency (Apiex), in coordination with the National Directorate of Industry, aims to enact a recent announcement by the Prime Minister, Carlos Agostinho do Rosário, that the Soalpo neighbourhood, where the Textáfrica textile factory is located and has been at a standstill for about 20 years, will be transformed into a special economic zone.

As announced at the time, the initiative to transform the neighbourhood into an industrial free zone is intended to promote domestic and foreign investment and thus facilitate the emergence of projects and businesses that can create jobs for locals and particularly young people and former Textáfrica workers.

As Carlos Agostinho do Rosário announced, all industrial, commercial and other ventures installed in the future Soalpo Special Economic Zone will be exempt from taxes and customs duties on equipment imports, as a way of facilitating their implementation and to attract potential investors.

The AIM news agency reported that Chinese, Indian, Japanese and South African businesspeople recently visited the venture and expressed interest in investing and recovering the company. (Macauhub)