Nampula received more direct investment between 2006 and 2015, Lourenço Sambo, Director General of the Agency for Investment Promotion and Exports (APIEX) has revealed
The statistics indicate that agriculture and agri-business were the second sector that received more money, of the US$40 billion foreign private investment.
This was revealed during a lecture entitled: ‘Tax Benefits on Investment Scope of Direct Foreign and National’, which, Lourenço Sambo gave the Mozambique Tax Authority to demystify the perception that Maputo and Tete are the provinces that have received more investments in our country.
“Nampula in the past decade is over because of the special economic zone, then we also have Tete there are coal mines” revealed the director of APIEX adding that the 40.8 billion US dollars of investment 10.8 billion they were the so-called Northern capital, followed by Tete with 7.3 billion.
The city and province of Maputo together received 10.3 billion dollars of investments between 2006 and 2015.
However, the current challenge is to reverse the decline of investments held since 2014.
Sambo argues that the current challenge, given the reduction in investment that is happening since 2014 “is effectively reverse the pyramid, the focus may not be gas or coal has to be agriculture, must be the infrastructure has to be looking at what can make a difference, for example energy, we have a huge potential.”
“We have a strategy to promote private investment in Mozambique, lasted three years and now we are doing something which has five pillars and one of them is to improve the business environment,” he added.
From the perspective of the director of APIEX, “the business environment is not a problem of the government, is a societal problem, is a problem of the Mozambican economy, is a problem of entrepreneurs, employees, unions, families, all of us to better the business environment needs political pragmatism and look at the case of Rwanda, it is to say that I do not want this to happen and not happen.”