Yokohama, Japan — 04 June 2013 – The governments of Mozambique and Japan have signed an agreement on reciprocal liberalisation, promotion and protection of investments “’ mainly in mining and infrastructure “’ as part of an official visit to Japan by the president of Mozambique.
Quoting Mozambican daily newspaper Notícias, Macauhub News Agency reports that the country’s minister of planning and development, Aiuba Cuereneia, who signed the agreement on behalf of Mozambique, said that it would allow Japanese investments in Mozambique to increase in a number of economic sectors. This would apply particularly to infrastructure, mining, agriculture, agro-industry, and technology transfer.
There are currently seven large Japanese groups operating in Mozambique, including Nippon Steel and Sumitomo Metal Corporation with interests in the coal sector, and Mitsui and Company with a stake in Block 1 of the Rovuma basin, where large natural gas deposits have been found.
The Japanese government is also funding reconstruction of the roads between Montepuez and Lichinga and between Nampula, Cuamba and Mandimba, and construction of roads and bridges in the provinces of Zambézia and Tete.
Another area in which the Japanese International Cooperation Agency (JICA) is involved in Mozambique is the refurbishment and development of the port of Nacala, an essential pre-requisite for the country’s rapidly growing coal industry.
Japanese Foreign Affairs Minister Fumio Kishida revealed that the agreement had been “vehemently requested” by the Japanese private sector, in order to increase and guarantee future investments in Mozambique.
Source: Macauhub News Agency. For more information, click here.