You Are Here: Home » Africa » S/Korean tycoons eye Mozambique investment

S/Korean tycoons eye Mozambique investment

Businesspeople from Mozambique and South Korea have met in Maputo to discuss investment opportunities, including the possibility of establishing partnerships in the mineral resource and energy sectors, APA can confirm Wednesday.The business forum was organised Tuesday by Mozambique’s Investment Promotion Centre (CPI), the Ministry of Mineral Resources and the Korea Trade Investment Promotion Agency (Kotra).

It was held as part of the official visit to Mozambique of the South Korean Deputy Minister for Industry, Trade and Energy, Choi Kyong-Lim.

Choi Kyong-Lim is being accompanied by a trade delegation of 37 entrepreneurs interested in natural gas, petroleum, energy and infrastructure.

The Director of the CPI, Lourenco Sambo, told the meeting that “Mozambique does not need to invent anything to develop. What we need is to find serious partners”.

He added that South Korea could also use its experience to help with financial and professional training and the construction of infrastructure.

“We have to push forward with the Special Economic Zones covering the centre of the country. We only have poles of development in law and not on the ground. Financial capacity plays a fundamental role – everything begins with money” he said.

The South Korean delegation also held separate meetings with representatives from the Ministry of Public Works and Housing, the hydrocarbon company ENH, fuel company Petromoc, electricity company EDM, port and rail company CFM, energy fund FUNAE, and the National Petroleum Institute (INP).

© 2009-2016 StarAfrica

Scroll to top