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Libya Wants to Invest in Rice Production and Processing in Mozambique

Libya Wants to Invest in Rice Production and Processing in Mozambique

Libya-based business group Libya Africa Investment Portfolio (LAP) has expressed interest in investing in the Mozambican agricultural sector, especially rice production and processing, O Económico reported on Thursday 16 January.

The announcement was made during a meeting at the Agency for the Promotion of Investment and Exports (APIEX, IP) in Maputo, in the south of the country, where the organisation’s director-general, Gil Bires, received the group’s president, Mustafa Abofanas, accompanied by other representatives of the Libyan delegation and the Libyan ambassador to Mozambican, Saleh Mohamed Elbuaishi.

The initial project involves setting up an agro-industrial unit in Gaza province, with the possibility of expanding to other regions of the country. The size of the investment will depend on the area of land to be allocated to the enterprise, which is considered a crucial factor in getting it off the ground. The Lebanese delegation plans to visit the province in the coming days to assess the potential sites and check the availability of infrastructure.

LAP, a government entity with a diversified portfolio that includes agriculture, energy, hotels and tourism, sees Mozambique as a strategic opportunity to satisfy the growing national demand for rice and explore export markets. This initiative also aims to strengthen economic relations between the two countries.

Gil Bires stressed that ‘the investment is in line with Mozambique’s National Industrialisation Programme, whose priority is to diversify exports and create jobs for Mozambicans’. He assured APIEX of his commitment to supporting the project, emphasising that ‘investors will have access to tax incentives and guarantees provided for in local legislation.’

Libya Africa Investment Portfolio’s entry into the agricultural sector could reduce dependence on rice imports, increase national production and open up international markets. In addition, the project has the potential to create jobs and contribute to Mozambique’s economic development, consolidating the prospects for trade co-operation with Libya.

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