The Mozambican government on Friday challenged South Korean companies to invest in the local processing of critical minerals and natural gas, as a means of accelerating industrialisation, generating employment, and increasing the value of the national economy.
Secretary of State for Industry Custódia Paúnde called for greater South Korean participation in the development of Mozambique's industrial base during the Mozambique-South Korea Business Forum, which brought together entrepreneurs and investors from both countries in Maputo.
The minister said the government intends to move beyond its role as a raw material exporter and appealed for South Korean investment in local resource processing and in the development of the metallurgical, chemical, and food processing industries.
"We do not intend to be merely an exporter of raw commodities. We want Korean companies, globally recognised for their technological advancement, to join us in investing in the local processing of our resources," Paúnde said at the opening of the forum.
The Secretary of State highlighted South Korea's experience in industrialisation and innovation, arguing that it could contribute to Mozambique's economic transformation, particularly in the areas of green energy, technology, and the decarbonisation of value chains.
The president of the Confederation of Economic Associations of Mozambique (CTA), Álvaro Massingue, in turn called for greater participation by Mozambican companies in South Korean investments through technology transfer, skills development, local supply of goods and services, and the creation of joint ventures.
"Business relationships are not built solely through cooperation between two governments, but above all through direct engagement between companies, investors, and entrepreneurs," Massingue said.
He identified natural gas, energy, infrastructure, agriculture, manufacturing, logistics, and mining as sectors with high potential for cooperation, and advocated for partnerships that would mobilise technology and capital, promote innovation, and facilitate access to international markets.
South Korea's Ambassador to Mozambique, Bok-Won Kang, said bilateral economic cooperation is entering a new phase, highlighting the involvement of South Korean companies in natural gas projects and the expansion of the partnership into areas such as solar energy, sanitation, pharmaceuticals, and the electricity grid.
The diplomat argued that the current momentum of cooperation should translate into new contracts, investment, job creation, and technology transfer. "Together, Korea and Mozambique can go further," Kang said.
Source: Diário Económico
Original article: https://www.diarioeconomico.co.mz/?p=540038
