Over 50 business operators from Rwanda’s different sectors arrived in the Mozambican capital Maputo on Monday for the Rwanda-Mozambique business Forum.
“We are looking for potential partnerships in different investment areas and our traders are ready to expand and explore more opportunities here,” said Robert Bafakulera the Chairman Private Sector Federation-Rwanda .
Last year, Gil Bires, Director General of Mozambique’s investment and export promotion agency invited Rwandan business operators to explore the vast investment opportunities in his country.
“We are open. There is a window for opportunity that the Rwandan private sector can take advantage of. And they are most welcome. We have a very attractive regulation on investment which is friendly for foreign direct investments,” Gil Bires said.
Mozambique has untapped opportunities in domains such as agriculture especially in production of cereals, fruits, flowers, and vegetables, for both the local and export markets.
Other lucrative investment areas include energy, infrastructure, manufacturing, mineral resources, and fisheries and aquaculture.
According to Bires Mozambique has a lucrative oil and gas sector but agriculture, manufacturing, tourism, infrastructure and energy are, presently, Maputo’s priority investment sectors even if “we are open to other investments.”
Mozambican investment law grants certain tax and customs benefits depending on the amount, location and sector of investment activity.
Mozambique has an area of 799, 390 square kilometers and a population of about 24 million people. In Mozambique, land belongs to the state which means that it is easy for those that want to invest in agriculture to have access to land.
Rwanda and Mozambique diplomatic ties have for the past two years flourished and the leaders of these two countries have signed a list of treaties.
Last year, Rwanda airlifted a 1,000-person contingent of the Rwanda Defence Force (RDF) and the Rwanda National Police (RNP) to troubled Cabo Delgado Province.
The Rwandan contingent was deployed to support efforts to restore Mozambican state authority by conducting combat and security operations, as well as stabilisation and security-sector reform (SSR).
Rwanda’s contingent of 1,000 soldiers is the biggest foreign force in resource-rich Cabo Delgado, which is the site of a $20 billion (€17 billion) liquefied natural gas project operated by French energy giant Total. But the area has also seen numerous attacks carried out by Islamist jihadis. The violence has uprooted more than 800,000 people.
This evening, with over 50 business operators from different sectors, we landed in Mozambique for #Rwanda-Mozambique business Forum.We are looking for potential partnerships in different investment areas and our traders are ready to expand and explore more opportunities here. pic.twitter.com/k5q0NNh401
— Robert Bafakulera (@robertbafa) May 23, 2022