Mozambique’s
agroprocessing and light manufacturing sectors are ripe for investment. So the
south-east African nation’s investment promotion agency is devising a plan to
attract investors from China.
The
Mozambique investment promotion agency, the Agency for Promotion of Investment
and Exports (APIEX), the International Trade Centre (ITC), and public and
private stakeholders have set a strategy for attracting Chinese direct
investment into the south-east African nation’s agroprocessing and light
manufacturing sectors. During the last decade, Mozambique’s leading source
countries for foreign direct investment (FDI) inflows have shifted from
Portugal and South Africa to China, which has nearly all been in the
non-productive sectors of transportation infrastructure and real estate. Simultaneously,
rising wages, growing import demand and new policy support from the Government
of China is set to encourage unprecedented volumes of productive FDI to the ‘Go
Out’ policy, China’s strategy to encourage its enterprises to invest
internationally. The Mozambican Government has resolved to attract a
transformative share of this investment.
APIEX’s
strategy, developed under ITC’s Partnership for Investment and Growth in Africa
(PIGA) programme, will provide Mozambique with a multi-year roadmap for
targeting new investors, nurturing existing ones and working with investment
climate stakeholders to achieve industry-stimulating reforms in four
subsectors: garment manufacturing, textile manufacturing, cashew processing and
fruit processing. Participants in the strategy setting process include
sector-focused public officials, the Mozambican private sector and
representatives of the Chinese Government and business communities. The
strategy, due in summer 2019, is expected to generate actual investments and
measurable economic impact based on APIEX’s persistent, proactive creation and
conversion of supporting policies. ‘We have worked with many institutions, but
here we have the feeling that you are really addressing our concerns and you
understand us,’ Denise, an APIEX official, told ITC-PIGA representatives. ‘We
hope that the strategy will provide clear guidance. PIGA can work with us and
we have energy to work.’
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