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Japanese to invest in Mozambican mining

The Yokohama
Convention & Visitors
Maputo, Mozambique — 31 May 2013 – The governments of Mozambique and Japan are due this week to sign a framework agreement in Japan for future Japanese investments in the Mozambican mining and energy sectors.

Macauhub News Agency quotes Mozambican daily newspaper “Noticias” as reporting that the agreement “’ which will be signed as part of the 5th Tokyo International Conference on African Development being held from 1 to 3 June “’ is intended to drive greater Japanese investment in the energy and mining sectors of Mozambique.

According to Notícias, this is the second agreement of its kind Japan has signed with an African country “’ the first was signed with Egypt in 1978.

As well as attending the conference while in Yokohama, the Mozambican President will lead his country’s delegation in a meeting with the Japanese government, meet with Japanese businesspeople and visit the African Fair, which is being held in Yokohama with the participation of 49 countries.

Mozambique will take part in the fair with a stand where it will promote investments in the special economic areas of Nacala and Manga-Mungassa, as well as the Beluluane Industrial Area, in Matola.

Cape Verde prime minister José Maria Neves was also due to travel to Japan to take part in the event, and will use the trip to meet with Japanese businesspeople in the fishing sector, according to the Cape Verdean press.

The prime Minister said that these meeting were intended to develop a platform for fishing “so we can build up a greater dynamic of growth and more employment on the island of São Vicente.”

The conference on African development marks the 20th anniversary of cooperation between Japan and Africa, and is co-organised by the Japanese government, the United Nations, the World Bank, the United Nations Development Programme and the African Union.

Source: Macauhub News Agency. For more information, click here.