Indian business leaders gathered in Maputo last week to explore opportunities in pharmaceuticals, energy, mining, agribusiness and other sectors of the Mozambican economy, reports news agency AIM.
Álvaro Massingue, chair of the Chamber of Commerce of Mozambique, which organised the event, called for structural investments in the country, with special focus on the pharmaceutical, agribusiness, mining, industrial and commercial sectors.
The last, he noted, constitutes the backbone of economic activity between Mozambique and its international partners with an expanding market and a strategic position in the Southern African Development Community (SADC), comprising 16 countries and over 360 million people. Furthermore, he argued, Mozambique has the potential to become a benchmark commercial sector, particularly with investments in infrastructure, logistics and digitalisation of commercial processes.
“This is the beginning of new partnerships and concrete opportunities for both countries,” Robert Sheki Shetkintong, Indian high commissioner in Mozambique, said last Tuesday during the business roundtable in Maputo.
[See more: India remains the top destination for Mozambican exports]
Investment in the pharmaceutical sector, Massingue explained, would not only ensure access to essential medicines but also promote local industrialisation and reduce dependency on imports. India’s considerable expertise would make it an excellent partner for enabling technology transfer, national production and the efficient distribution of health products.
Agribusiness is another key sector he highlighted. While Mozambique has an abundance of fertile land and favourable climate conditions, it needs “investments to modernise production, improve logistics and add value to our agricultural products, making them more competitive on the global market.”
Mozambican agricultural products are among the top exports purchased by India, along with coal and natural gas. Indian companies in the energy and mining industries have established a strong presence in the company, one Massingue hopes to see develop further.
Beyond extraction, he said Mozambique needs more investment in localising processing, “creating jobs and fostering the development of related infrastructure.”
