Chinese business people to invest $13 billion in Mozambique
Maputo, 27 Aug (AIM) - A delegation of Chinese business people from Shanghai announced in Maputo on Thursday that they intend to invest $13 billion in a number of projects in Mozambique over the next five years.
The Mozambican Government and the Chinese investors signed two memorandums of understanding (MoU), which lay the basis for the implantation of these projects.
Planning and Development Minister Aiuba Cuereneia and the head of the Chinese delegation, Cao Hongru, signed the MoU.
The projects include an industrial park and a car assembly plant. Another project is a “China Town”, to be built in Catembe municipality across the Maputo Bay from the capital, to accommodate Chinese and Mozambicans.
Speaking during the ceremony, Cao Hongru said that “these two memorandums are the result of the visit of the Mozambican Prime minister, Aires Ali, to China last June, when he invited Chinese businesspeople to invest in Mozambique”.
“We will start by investing $1 billion. We will definitely reach our goal,” stressed Cao Hongru, who is also the chairman of the board of the China Tong Jian Investment company in Shanghai.
For Cuereneia the installation of the industrial park will reduce both the level of unemployment and the price of goods in the local market, by cutting down imports.
On the occasion, Cao Hongru said that Chinese businesspeople are prepared to immediately invest $1 billion, and establish direct flights linking Maputo and Shanghai to boost trade and tourism between the two countries.
Cao Hongru believes that, with direct flights, over a million Chinese tourists could visit Mozambique annually.
The Chinese delegation includes over a dozen of businessmen working in the field of energy, finance, mining and agro-processing.
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