The President of Mozambique Daniel Chapo has invited Zambia to consider investing in his country’s energy sector for economic growth in both countries.
President Chapo says that investing in his country’s energy sector will support Zambia’s electricity deficit, translating into economic development.
The Mozambican Head of State indicated that with its endowments in water bodies, Mozambique is the solution to energy problems and wants to be the hub of energy in the SADC region.
He was speaking at the Business Leaders Roundtable on leveraging the economic potential of Zambia and Mozambique, in Lusaka district.
The President went on to state other investment opportunities in his country including tourism, agriculture and infrastructure development.
He noted that the historic relationship between the two countries that were established in solidarity with a shared vision for a prosperous future, should transform into friendly investment.
” I am here to invite you to make business in the energy sector, and in agriculture we have fertile land, water and also a blooming tourism sector,” he said.
He also said that Mozambique offers Zambia strategic access to logistics through the Nacala Logistics Corridor, a major transportation and trade route in South Eastern Africa that connects the landlocked countries of Malawi and Zambia to the deep-water port of Nacala in Mozambique.
The Mozambican President added that his government wants to construct a new road to access the Port of Beira, hence looking for investors to achieve this vision.
“I am working with my brother President Hakainde Hichilema to find land to do a dry port here in Zambia that connects Nacala and Beira, because we know that transport and logistics is important to development,” he added.
He also disclosed plans to put up a one border post between Zambia, Mozambique and Zimbabwe to enhance the transport and logistics sector.
Mozambican Secretary of State and Industry, Custodia Paunde was hopeful that the round table brings fruitful results for more cooperation between the two countries
Zambia Development Agency Director General, Albert Halwampa called for more collaboration between the two countries stating that it has an assured market.
Mr Halwampa highlighted the investment landscape of Zambia, stating that due to stable economic policies, the country has built high level confidence from local and foreign businesses, and now a preferred investment destination.
Encouraging intra African investment and trade, Mr Halwampa urged Mozambican investors to invest in Zambia.
He noted the areas of investment that include mining in critical minerals, agriculture, animal breeding to support beef export and renewable energy.
“We have generous investment incentives such as zero tax on equipment being brought in the country, 10 years tax holiday for investment in the farm blocks,” Mr Halwampa said.
Chairman of the Board and President of Beira Business Association, Felix Machando expressed hope that the private sector in Mozambique and Zambia will continue to invest, believing in a better future.
Mr Machanso called on the private sector to take advantage of the opportunities by both governments to grow economies in both countries.
He explained that the Beira development corridor is a live utterly for development for both countries, therefore calling for investment in digitalisation, reduce border processes
“Governments set the rule that the private sector drives results. They create favourable conditions for investment and policies to which we must take advantage of,” he said.
And Mr Machanso appreciated the Industrial capacity of Zambia, citing the trade King’s Group adding that cooperation between the two countries has a promising future.
Zambia Association of Manufacturers president, Ashu Sagar said the meeting is not just a platform for learning but to develop together.
Mr Sagar indicated that Zambia is the heart for development, and Mozambique should consider growing its cooperation focusing on infrastructure that links the countries through the Lobito Corridor to drive and grow regional trade.
Zambia Chamber of Commerce and Industry, Anthony Kabaghe said that the round table lays a foundation for a new economic destiny between Zambia and Mozambique.
