SA's Gina to lead trade and investment mission to Mozambique
South Africa's deputy minister of trade, industry and competition Nomalungelo Gina will lead a group of business people on a mission to Mozambique later this month with the aim of increasing bilateral relations between the two countries, her department said on Monday.
The department is organising and funding the November 24-29 visit through its Export Marketing and Investment Assistance (EMIA) scheme whose objective is to develop export markets for South African products and services.
The department said trade with Mozambique, South Africa’s third largest trading partner on the continent, grew from R43.9-billion in 2013 to R52.4-billion in 2018.
South African companies, state-owned enterprises as well as small, medium and micro enterprises (SMMEs) have invested across a broad spectrum of sectors in Mozambique with 43 foreign direct investment projects recorded between January 2003 and March 2019.
These projects represent a total capital investment of over R90 billion, which is an average investment of R3-million per project with over 8 500 employment opportunities created, according to the trade department.
Gina said the upcoming mission was an ideal platform for South African companies looking to export value-added products and services and those seeking investment opportunities in Mozambique.
"The specific focus of the mission will be on designated industrial and infrastructure projects as envisaged in the memorandum of understanding on economic cooperation between the two countries," she said.
"These include the liquefied natural gas projects in the Northern Cabo Delgado province, electricity generation, transmission and distribution systems, water supply systems, transport infrastructure such as ports, rail and roads and the industrial development zones."
The projected economic boom associated with the development of the gas sector in Mozambique was expected to have multiple positive spin-offs for the rest of the economy, Gina said, adding that natural gas discoveries were attracting investments and providing numerous opportunities for South African firms looking to expand into the neighbouring country.
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