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Prime Minister Narendra Modi on Wednesday expressed the hope that Mozambique would continue to provide an encouraging environment for investments from India, including in the areas of hydrocarbons, minerals and infrastructure.
Speaking to the media after a delegation-level meeting with Mozambique’s President, Filipe Nyusi, the Prime Minister said that the African nation can be a significant source of natural gas, coal and other minerals that are vital for India’s growth. It also offers huge opportunities in the agriculture sector.
“I am pleased that Indian investments in these sectors have grown significantly in recent years. Mozambique hosts nearly 25 per cent of Indian investments in Africa. Our trade has multiplied five times in the last five years,” the Prime Minister said, adding that India seeks to deepen its relations with Mozambique and enhance its engagement in the region.
The two countries also agreed to explore ways to speed up the implementation of power supply projects in Maputo, Mozambique’s capital, which are being funded by an Indian line of credit.
The Prime Minister also assured the Mozambican President of India’s full assistance and collaboration in agriculture and food security. The two countries also finalised a Memorandum of Understanding on Cooperation in the field of Renewable energy.
Briefing newspersons, Navtej Sarna, Secretary, Ministry of External Affairs, said that the parleys between the Prime Minister and President Nyusi mostly focussed on economic cooperation. “They discussed specific projects in terms of gas, railways and coal,” the External Affairs Ministry official said.
Inviting investments On Wednesday Nyusi invited investments from the Indian private sector for the African nation’s agriculture sector.
Addressing members of the industry chambers CII, Assocham and Ficci, he said: “Mozambique is a large country with favourable conditions for cash and food crops. Our railway, road and port infrastructure provides a market locally and export options.”
“Our strategy is to explore value addition for our agri-industry. We would like private investors to come into Mozambique for this sector,” President Nyusi added.
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