Mozambique holds annual int'l fair to boost trade, investment

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MAPUTO, Aug. 30 (Xinhua) -- The 56th edition of the Maputo International Fair (FACIM), the country's largest multi-sector trade fair, opened on Monday in Mozambique's southern province of Maputo.

Speaking at the opening ceremony of the annual event, which was canceled last year due to the COVID-19 pandemic, Mozambican President Filipe Nyusi said that the fair should serve to attract investment and to place national companies on international levels.

"With reference to the first half of this year, projects in the order of 750 million U.S. dollars were approved. The energy sector leads with greater weight, following the sectors of industry, transport and communication services," said the president.

These results indicate good levels of Mozambique's attractiveness as an investment destination, despite the obstacles caused by the pandemic, he said.

"The country has special economic zones, and industrial parks and regions of high economic potential open to foreign investment that can achieve growth if well explored," said Nyusi.

According to the head of state, local companies also have the capacity and potential to enter international trade based on the advantages the country has.

We encourage and recommend the inclusion of more exhibition themes regarding the country's economic potential, such as industry and commerce, mineral and energy resources, agro-processing, fisheries, and the financial sector, he said.

Nyusi said his government will continue to remove bureaucratic barriers, in order to make the business environment more attractive and competitive and that allows for investment in a scenario with better predictability for companies.

Under the motto "Industrialization: Innovation and Diversification of the National Economy", this year's FACIM will take place with both on-site exhibitors and online virtual tours, until September 5. Enditem

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