The Nacala Special Economic Zone (SEZ), in the northern province of Nampula, with projects approved since 2009 to the tune of 3 billion dollars, has the potential to generate 24,000 jobs over the next few years, the Mozambican Information Agency (AIM) said on Tuesday, 31 October.
According to the director-general of the Agency for the Promotion of Investment and Exports (APIEX), Gil Bires, so far there are 1,200 investment projects already approved, of which 90 are operational, and the Nacala Special Economic Zone has already generated 10,000 jobs for young people.
In his interview with AIM, the source reviewed the initiatives underway in the Nacala Special Economic Zone, an area considered fertile for investment, given its economic value, due to its location on the Nacala logistics corridor and its local port, one of the largest in East Africa.
The SEZ is of strategic and economic importance for the entire northern region of the country, and is on the verge of closing new investments, most notably the Dugongo Group’s new cement factory, which has already been approved, and others that are still being negotiated for approval.
“The giant Dugongo is going to start its operations here, given the demand for cement in the region. It’s going to be a great opportunity in terms of creating jobs and boosting the economy, especially in the construction sector,” said Gil Bires.
According to the head of APIEX, of the projects approved, 41 per cent are in the industrial sector, 20 per cent in the hotel and tourism sector, 33 per cent in commerce and services and 6 per cent in the civil construction sector.
The source said that he believed that the modernisation of the port of Nacala would open up good prospects in terms of new investment flows, taking into account the impact that new infrastructure will have on the development of the Nacala Corridor in general and the Nacala EEZ in particular.
Good prospects also result from the Package of Economic Acceleration Measures (PAE), which is an important factor in boosting the business and investment environment in the country in general, considering the impact of some of the measures, especially the new Investment, Labour and Foreign Exchange laws, along with reforms to the system for issuing entry visas (e-visa platform).
The Nacala SEZ covers both the districts of Nacala Porto and Nacala-a-Velha, and was the first SEZ created in the country and where there is a record of the largest number of investment projects approved under this special regime.
