Davos 23: Trade Minister Silvino Moreno on what makes Mozambique attractive to investors

Mozambique's Minister of Trade and Industry, Silvino Moreno, is on a mission to attract investors to the country as it seeks to accelerate economic recovery from the impacts of the COVID-19 pandemic and natural disasters. Speaking at the 53rd World Economic Forum meeting, Minister Moreno outlined Mozambique's objectives, highlighting the industrial program 'Pronai' as a key focus area. The government aims to bolster its agricultural sector by investing in fertilizer production to mitigate risks from global supply chain disruptions. Additionally, Mozambique is keen on leveraging its gas reserves to drive economic growth. Minister Moreno expressed optimism about the country's LNG exports and underscored the potential for Mozambique to become a key player in the global energy market. In discussions with potential investors at Davos, Minister Moreno emphasized Mozambique's commitment to creating a conducive investment environment. The country has introduced new investment laws with attractive incentives to allure investors. Manufacturing and logistics companies are among the key stakeholders being engaged to explore investment opportunities in Mozambique. The minister also highlighted the significance of preparing for the African Continental Free Trade Area (AfCFTA) to enhance regional trade and industrialization. Addressing energy challenges in the region, Minister Moreno underscored Mozambique's role in the energy sector. With projects like the Kaharabasa Dam and Panankua on the horizon, the country is inviting regional investors to participate in initiatives aimed at addressing the energy crisis. Minister Moreno reiterated the importance of energy in driving industrialization and economic development, emphasizing the need for collaborative efforts to ensure sustainable energy solutions. Looking ahead, Mozambique is strategizing to add value to its natural resources by prioritizing industrialization. Minister Moreno stressed the importance of moving away from exporting raw materials and instead fostering local industries to process minerals and gas within the country. By focusing on value addition and sustainable development, Mozambique aims to position itself as a key player in the region's industrial landscape. The discussions at the World Economic Forum shed light on Mozambique's investment potential and its strategic vision for economic growth. With a focus on energy, manufacturing, and regional collaborations through initiatives like the AfCFTA, Mozambique is poised to attract investors and drive sustainable development in the years to come.