Mozambique eyes closer trade, investment ties with China

By XINHUA

WUHAN, Oct. 20 (Xinhua) — Mozambican Prime Minister Adriano Maleiane Friday expressed the hope to strengthen economic and trade cooperation in various sectors with China at an investment promotional event held in central China’s Hubei Province. In his address at the event, Maleiane emphasized the economic strengths of Mozambique and his hope for both countries to deepen cooperation in sectors like agriculture, tourism, energy, and infrastructure development to advance the country’s economic diversification. More than 50 Mozambican officials and business representatives attended the event. China ranks among Mozambique’s top 10 foreign investors, with 166 approved projects in Mozambique between 2017 and 2022, creating over 19,000 jobs. The total investment value exceeded 1 billion U.S. dollars, of which over 700 million U.S. dollars is direct investment, according to data shared by Mozambican Industry and Commerce Minister Silvino Moreno at the event. Most of this investment was in the industrial sector, followed by construction and services, Moreno said, adding that Mozambique is looking forward to Chinese investment in agriculture, industry, infrastructure, and logistics. Enditem