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MOZAMBIQUE: President urges Portugal to invest in its former colony

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image Portuguese president Aníbal Cavaco Silva (2nd R) and his wife Maria Cavaco Silva (1st L) and Mozambique's President Armando Guebuza (2nd L) and his wife Maria da Luz Guebuza pose for a photo in Lisbon, Portugal, July 1

The president of Mozambique, Armando Guebuza, Tuesday invited Portuguese businesspeople to invest in Mozambique, as, he said, it was a country where large and small projects complemented rather than contradicted each other.
At the opening of the Mozambique/Portugal business seminar organized as part of a State visit to Portugal, Guebuza said that Mozambique was a country where oil and gas discoveries had improved the business climate and attracted investment.
In 2007, according to Guebuza, the Mozambican government set up Special economic Zones and Duty-Free Zones to house anchor investment projects to create jobs and generate wealth for the country’s social and economic development.
“Mozambique is no longer just a country of hopes and dreams and so I am inviting Portuguese businesspeople to give their contribution by establishing business partnerships in a climate of mutual respect and respect for the Mozambican legal framework,” Guebuza said.
According to Guebuza, the business climate in the country is driven by macroeconomic stability and average growth of 7 percent that the country has seen for the last 15 years.
The Portuguese prime minister, Pedro Passos Coelho, reiterated that business relations between Portugal and Mozambique were on a high and added that, in 2013, foreign direct investment (FDI) by Portugal in Mozambique totaled 130 million euros and created 10,000 new jobs.
Payments from the 134 million-euro credit line for business cooperation, according to Passos Coelho, are a sign of Portugal’s wish to raise the awareness of international investors of Mozambique as a destination for their investments. MDT/Macauhub

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