As LNG projects in the north of Mozambique progress, the government faces two major hurdles: financially, to find capital for its share of the investment needed to develop the Rovuma basin world-class natural gas reserves, which could top US$1 billion; militarily, to ensure safety in Cabo Delgado province from Islamist insurgents. In both instances, Russia has come to the rescue.
Mining company Jinan Hi Tech will help bolster China’s presence in Mozambique’s graphite extraction and processing after receiving authorisation from China’s National Development and Reform Commission to buy a 34.01% stake in Australia’s Triton Minerals.
Angola and Mozambique are among the highest-risk African countries, albeit with an upward trend in returns for investors, according to the Risk-Return Index 2019, a study by consulting firms Oxford Economics and Control Risks.
Chinese telecommunications group Huawei is involved in the launch of 4G and 5G mobile network technologies in Mozambique and Cabo Verde, which are expected to help boost the economies of both countries.
Most Portuguese-speaking countries have fallen in the index of the recently published Travel and Tourism Competitiveness Report, with the exception of Portugal and Angola.
Mozambique, as one of the poorest countries in the world, can be considered lucky to have so many valuable natural resources on its soil. From coal and gas to precious stones and timber, it has many raw materials that are in big demand in the rest of the world. It is up to the private sector to develop the required export projects but the government has a big role to play.
Most African countries, including the Portuguese-speaking ones, have been facilitating the entry of Chinese citizens in their respective territories, the aim being to increase investment and tourism, indicates a study by the Migration Policy Institute
After many delays, 2019 has become the year when, finally, both liquified natural gas (LNG) projects in Cabo Delgado, in northern Mozambique, are underway. But a few challenges still remain before they become a reality and, in 5–6 years, Mozambique becomes Africa’s biggest LNG producer, exporting energy to China and other Asian countries.
The São Tomé Trade and Investment Promotion Agency (APCI) will follow up on potential deals that resulted from the meeting of entrepreneurs from China and Portuguese-speaking countries, said the director of the São Tomé and Príncipe agency.
Mozambique is finalising a new strategy to attract investment from China, focused on agro-industry and light industry, at a time when the country is also being sought out by Chinese pharmaceutical manufacturers and medical equipment manufacturers.
Art has been around for at least 10,000 years. It has taken many forms, from paintings on cave walls to dead sheep suspended in formaldehyde. But, whatever the medium, age and location, one thing is for sure: you can tell a lot about a culture when you look at its art. As the late anthropologist Claude Lévi-Strauss said, objects matter.
The diversification of Macau’s economy centred on relations with Portuguese-speaking countries is essential if the territory is to find its place in the Greater Bay Area, said the chief executive of Banco Nacional Ultramarino (BNU).
China is involved in eight port projects, which have either been completed or announced in Portuguese-speaking countries, as a construction company or through funding, according to a recent survey by the Center for Strategic International Studies (CSIS).
The government of Mozambique is battling to bring its debt under control. Public debt as a proportion of GDP reached 110.5% at the end of 2018, up from a low of 37.5% in 2011 thanks to long-running debt relief.
Mozambique, Equatorial Guinea and Portugal were the most highlighted Portuguese-speaking countries most in the 2nd “Belt and Road” Forum for International Cooperation, during which new partners signed up to the global Chinese initiative.
While new coal and LNG port terminals in the northern half of Mozambique attract most international attention, the port of Maputo continues to grow rapidly. The more northerly projects are designed to handle domestic exports but, in contrast, Maputo has managed to regain its historic role as an important entrepôt for South African trade.
The ports of Mozambique, Angola and São Tomé and Principe will be linked to the Chinese “´Belt and Road” initiative, which will have a “central hub” in East Africa, wrote researcher Paul Nantulya.
Credit and other institutions legally authorised to receive deposits in Mozambique have until 31 July to adopt new information rules decided by the country’s central bank.
The Portuguese-speaking countries (PSCs) will play a key role in the future of Macau outlined in the Greater Bay Area (GBA) Plan of the Central Government of China.
Mozambique has exceeded expectations in terms of global connectivity, according to the latest ranking by multinational DHL, in which Timor-Leste was the only Portuguese-speaking country included to increase competitiveness compared with the previous year.