Libya Africa Investment Portfolio (LAP), a prominent Libyan business conglomerate, is exploring significant investment opportunities in Mozambique’s burgeoning agricultural sector, with a particular focus on rice production and processing.
During a recent meeting with the Agency for the Promotion of Investment and Exports (APIEX) in Maputo, LAP President Mustafa Abofanas expressed keen interest in establishing an agro-industrial unit in Gaza province. This ambitious project aims to capitalize on Mozambique’s fertile land and contribute to the country’s food security while simultaneously strengthening economic ties between the two nations.
The Libyan delegation, accompanied by the Libyan Ambassador to Mozambique, Saleh Mohamed Elbuaishi, discussed the project with APIEX Director-General Gil Bires. The scale of the investment will be determined by the availability of suitable land in Gaza province, a critical factor in the project’s feasibility. The delegation plans to conduct site visits in the coming days to assess potential locations and evaluate the existing infrastructure.
LAP, a government-owned entity with a diverse portfolio spanning agriculture, energy, hospitality, and tourism, recognizes Mozambique’s potential as a key player in regional food production. By investing in rice cultivation and processing, LAP aims to not only meet the growing domestic demand for rice but also explore lucrative export markets.
Gil Bires welcomed LAP’s investment proposal, emphasizing its alignment with Mozambique’s National Industrialisation Programme. He assured the Libyan delegation of APIEX’s full support, highlighting the various tax incentives and guarantees available to investors under Mozambican law.
This potential investment holds significant promise for Mozambique. By reducing reliance on rice imports and boosting domestic production, the project can contribute significantly to the country’s food security. Moreover, it has the potential to create a substantial number of jobs, providing much-needed employment opportunities for the Mozambican workforce.
This initiative marks a significant step forward in strengthening economic cooperation between Libya and Mozambique, fostering mutually beneficial partnerships and contributing to the sustainable development of both nations.
