africa Economy FDI Mozambique Trade

UK commits £2b to investments in Mozambique

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The British Secretary of State for International Trade, Liam Fox has said his country will provide £2 billion worth of private sector investment in Mozambique as bilateral trade relations between the two countries continue to flourish.

The official made the announcement late on Wednesday during a meeting between the British and Mozambican delegations led by President Filipe Nyusi, and the British Secretary of State for International Trade, Liam Fox.

President Nyusi arrived in London on Tuesday to attend the biannual Commonwealth Heads of State and Government meeting (CHOGM), a two-day meeting starting on Thursday and being attended by 53 countries from all over the world.

At the meeting, according to a note from the Mozambican Presidency, the two delegations discussed investments in the areas of tourism, agribusiness, education, gas and oil.

The British official explained that the United Kingdom has available £20 billion for the private sector in Africa of which £2billion is for Mozambique.

In addition to this amount, Fox promised to mobilize UK businesses to channel its investments to various sectors of the Mozambican economy, particularly the private sector.

“Fox understands that the investments to be channeled to the private sector will allow greater stability of the Mozambican economy, which may promote income generation and prosperity”, a presidential statement to APA on Thursday said.

The UK is the second largest investor in Mozambique after South Africa.

According to the British official, London’s private sector is willing to embark on the opportunities currently offered by Mozambique following the discovery of vast quantities of natural resources, particularly natural gas, heavy sands and coal.

Source: Journal du Cameroun

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