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Investors Pledge US$107M for Development Projects in Inhambane

Investors Pledge US$107M for Development Projects in Inhambane

At the end of the Third Investment Conference in Inhambane province, investors pledged to invest more than US$107 million, the equivalent of more than 7 billion meticais, in various development initiatives.

The investors are Mozambican companies operating in various areas of the economy, such as SAM – Sociedade de Águas de Moçambique, SANNY commercial, KJ, in the construction of a meat slaughtering plant, TSETSERA – construction of a marina in the city of Inhambane, PS Lda – construction of infrastructures to connect tourist attractions, the latter three with South African capital.

The announced investments are expected to create 970 new jobs in the districts of Inhassoro, Mabote, Vilankulo, Govuro, Massinga and the cities of Inhambane and Maxixe.

The Governor of Inhambane, Daniel Chapo, pledged the provincial executive’s readiness to work to facilitate and guarantee the implementation of the projects, at a time when for him the challenge is to move from theory to practice.

For his part, the Secretary of State in Inhambane Province, Amosse Macamo, believes that the conditions have been created “for the province to take a qualitative leap towards the desired development”.

Inhambane Province, which is looking to expand its economic activities beyond tourism, is known for its vast tourist potential along its 700 kilometres of coastline.

At the opening of the 3rd conference, the province’s Secretary of State, Amosse Macamo, emphasised the importance of economic diversification and the implementation of impactful projects.

In a package of ongoing projects such as natural gas exploration and electricity production, Amosse Macamo emphasised the vital role of infrastructure in boosting the province’s development. He also expressed the intention to develop a common vision on investments in various sectors, such as tourism, mining, agriculture and fishing, among others.

On the other hand, the representative of the Inhambane Business Council, Abdul Razack, challenged local entrepreneurs to be proactive, highlighting the province’s favourable conditions for economic development and listed advantages such as a high rate of drinking water, electricity in all district headquarters, the presence of international airports in Vilankulo and Inhambane, as well as the province’s connection to the EN1.

The III Investment Conference was held under the slogan “Inhambane Developing Value Chains to Boost Local Production, Employment and Consumption”, emphasising the province’s commitment to promoting sustainable and inclusive economic growth.

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