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MIC: “Global Gateway is an Opportunity to Attract More European Investment”

MIC: “Global Gateway is an Opportunity to Attract More European Investment”

The Minister of Industry and Commerce, Silvino Moreno, expressed the need to boost trade relations between Mozambique and Europe during the press conference for the Global Gateway Investment Forum on Monday 20 November, stressing that the initiative is an opportunity for the country to attract more investment from the old continent.

“I’ll start by saying that the European Union is Mozambique’s biggest trading partner, and this event is an opportunity for us to reaffirm that position and better explain our investment needs. For the country, we have decided and prioritised the industrial, tourism and energy sectors,” said the minister, stressing that “the added value we want from this Global Gateway is for European companies to be able to identify opportunities we have in the country, from an investment point of view. We have needs in various areas, especially in the energy sector, and this is one of the priorities we are bringing to this forum.”

He explained that the meeting, which will take place on the 22nd and 23rd, will discuss all the projects that should be implemented in the coming years in the energy sector, emphasising that the tourism sector needs more investment.

“We believe that European companies, at their best, can also find opportunities in this area. In general terms, we see this forum as a great opportunity to publicise our investment projects and our priorities. We want to capture and attract the attention of the various companies that will be present,” he said.

For his part, the European Union’s ambassador to Mozambique, Antonino Maggiore, revealed that Global Gateway has very important financial strength, and in the case of Africa, the funds available are 150 billion euros.

“This means that the European Union has these funds available to support sustainable growth projects with an approach based on values and sustainability. I’m talking about respect for workers’ rights, one of the responsibilities of the private sector, which also plays an important role in driving green growth. So this is a partnership strategy between the European Union and the Government of Mozambique, with the participation of the private sector,” he explained.

And to exemplify the consolidation of this partnership, Antonino Maggiore referred to the Mphanda Nkuwa hydroelectric project, which has the participation of European companies, funding from the European Investment Bank and the participation of the Mozambican government.

On the same occasion, the president of the Association of European Entrepreneurs in Mozambique (EUROCAM), Simone Santi, explained that “Global Gateway is a unique opportunity in which the European Union has concentrated its efforts to help the private sector prosper in Africa, with some guidelines designed together with local governments, in this case Mozambique’s, for sustainable development”.

“As EUROCAM, our aim is to maximise the participation of national entrepreneurs in the Forum to form partnerships with European companies, because they are the first to need a local partner and capital, which is not only financial but also human. They need knowledge of the market, the bureaucracy and the relationships that are useful for doing business,” said Simoni Santi.

The Forum will be followed on 24 November by the 3rd Business Conference – Renewables in Mozambique (RenMoz 2023), organised by the main renewable energy players and operators in the country.

In this context, Ricardo Pereira, president of the Mozambican Renewable Energy Association (AMER), explained that within the Global Gateway itself, energy is a very important topic and the Mozambican renewable energy private sector “is delighted to be able to participate, support and structure it”.

“The Global Gateway Investment Forum, in its organisation, has taken care to ensure that the information provided is relevant and up-to-date. At the conference, some agreements will be signed and very recent statistics will be shared,” he said.

This first edition of the Global Gateway Investment Forum Mozambique – European Union will take place under the theme “Creating Business Opportunities” and is organised by the Mozambican government, the European Union delegation and the Association of European Chambers of Commerce (EUROCAM).

The event will bring together stakeholders from the national and European public and private sectors, with the aim of exploring strategies for attracting quality investment, within the scope of the European Union’s Global Gateway Strategy and boosting trade between Mozambique and the European market.

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