Mozambican
President Filipe Nyusi declared in Washington on Wednesday that Mozambique “is
back on the path to economic growth and development”, showing clear signs of
overcoming the obstacles it has faced recently.He was speaking at the opening
of the 11th US-Africa Business Summit, which is convened every two years by the
Corporate Council on Africa. This is a trade association set up in 1993 to
promote business and investment between the US and African countries. “Today
we can say that Mozambique is back as a country with a prospering economy”,
said Nyusi. This was not merely because of recent discoveries of vast reserves
of mineral resources, particularly natural gas, in which American companies are
playing an important role. Nyusi stressed that the opportunities in Mozambique
cover many other areas, including agriculture, electricity generation and
distribution, and the production and sale of industrial and consumer goods.
“Thus
Mozambique is back, back to transform into wealth the enormous potential and
countless business opportunities that it offers”, said the President, as he invited
US businesses to invest. As a signal of
the trust that Mozambique now enjoys internationally, Nyusi pointed to the
official launch, on 1 June, of the project to produce liquefied natural gas on
a floating platform above the Coral South gas field in the Rovuma Basin, about
50 kilometres from the coast of the northern province of Cabo Delgado.The
operator of this project is the Italian energy company, ENI, heading a
consortium which also includes the China National Petroleum Corporation (CBPB),
KOGAS of South Korea, GALP of Portugal and Mozambique’s own National
Hydrocarbon Company (ENH). The total cost of the project is put at eight
billion US dollars (in addition to the 2.8 billion already spent on exploration
and other preliminary work). The floating LNG project “is a great vote of
confidence in Mozambique and in our government”, declared Nyusi. “Hence our
statement: Mozambique is back, and foreign investment is safe”.He recognized
that Mozambique still faces challenges arising from the recent economic crisis,
but he believed it was possible to overcome them through the re-establishment
of effective peace and political stability. This was a process, Nyusi added, in
which he hoped the country could count on the support of all its friends,
particularly the United States.
“The
Mozambican people and the business community are awaiting with great
expectation the evolution of the hydrocarbon projects in the Rovuma Basin,
particularly the exploitation of natural gas”, Nyusi declared.He considered the
United States as a strategic partner in this area, and believed that American
investment could help make Mozambique one of the largest producers of natural
gas in the world. An American company, Anadarko, is the operator of Rovuma
Basin Area One, and plans to set up LNG plants onshore, on the Afungi
Peninsula, in Palma district. The giant US energy corporation, ExxonMobil, has
agreed to purchase a large share in Area Four from ENI, and it too will set up
onshore LNG plants. Nyusi believed that, in the coming years, the United States
will become the largest single investor in Mozambique. “These are investments
that transform the structure of the Mozambican economy”, he said, “and they
mark a sharply positive turn in the history of Mozambique’s relations with the
US”.
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