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Mozambique-Italy Business Forum: Italian Investment Exceeds $989M

Mozambique-Italy Business Forum: Italian Investment Exceeds $989M

During the opening of the Mozambican-Italian Business Forum, held on Monday 3 June in Maputo, Simone Santi, president of the Mozambican-Italian Chamber of Commerce (CCMI), revealed that investments by Italian companies in the country will reach a production volume of 62.8 billion meticals (989 million dollars) by 2023.

‘This amount represents approximately six times Mozambique’s Gross Domestic Product (GDP), emphasising the importance and impact of Italian companies on Mozambique’s economic development,’ said Simone Santi.

The CCMI President highlighted the presence of 15 new Italian companies in Mozambican, adding to the 30 or so already established in the country. ‘These companies cover various industrial, technological and business sectors, demonstrating the strong partnership and collaboration between Mozambique and Italy,’ he emphasised.

Simone Santi also stressed the importance of technical and vocational training, the industrialisation of the African continent and the use of local natural resources as fundamental pillars for sustainable economic development. She emphasised the need to make the most of Mozambique’s resources, such as oil, gas, precious stones, biomass and marine resources, through the application of advanced Italian technologies.

The CCMI president mentioned the priority of the Mattei Plan, ‘which aims to integrate small and medium-sized local companies into major business initiatives, promoting joint and sustainable development’.

As examples of structuring projects, Simone Santi spoke about the transformation of waste into biogas, energy generation from LNG and the production of biofuels and Sustainable Aviation Fuel (SAF). He stressed the importance of using biomass and processing precious stones locally to maximise added value in the country.

Concluding his speech, the CCMI president emphasised the importance of not missing the ‘train’ of rapid development, encouraging everyone present to be agile at the pace of global business. ‘Italy and my friends are always together, demonstrating that they work together. I’m very honoured that we have panelists who are going to talk about local content, because for us, local content is partnership,’ he said. Simone Santi finalised by calling on everyone to take advantage of the opportunities and continue to strengthen the partnership between Mozambique and Italy for a prosperous future.

The Mozambique-Italy Business Forum was attended by the European Union and the Mozambican government through the Ministry of Mineral Resources and Energy (MIREME) and the Ministry of Foreign Affairs, as well as Mozambican and Italian businesspeople and experts from the gas and energy sector. The meeting, which took place in the BCI auditorium, promoted panel discussions on the energy, infrastructure, logistics, construction and agricultural processing sectors between the two countries, where various pieces of information were shared to guarantee security for Italian investors in Mozambique.

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