Mozambique’s largest Confederation of Economic Associations of Mozambique (CTA) has urged Portuguese investors wishing to invest in the country to identify local partners in order to achieve success.
“All large projects from Portugal have failed so far. This is due to the investors’ putting highly paid Portuguese employees in charge, without the presence of local parties with direct interests in the investment,” CTA President Salimo Abdula told an audience of business owners from Portugal in the capital Maputo.
Abdula was addressing a business gathering branded, “Mozambique : An Exemplary Market,” aimed at explaining the country’s potential to a group of business people from the Industrial Association of the District of Aveiro, who are visiting Mozambique this week.
Abdula noted that the Zambezi valley area of central Mozambique had great potential investments in tourism, agro-industry, mining and services.
Representatives of 10 companies from Aveiro are currently in Mozambique, including furniture manufacturers, plastic tubing producers, marble and metallurgy.
They are in Mozambique at a time Lisbon has announced that its investments in Mozambique have grown five-fold in three years — rising from 22.7 million euro to 113.2 million euro between 2004 and 2007.
Source African Press Agency
