Brazilian investment to boost Mozambique textile sector
The Brazilian government has said it will invest in infrastructure developments and certain industries manufacturing industries in Mozambique.
It hopes to help modernise Nacala airport and to build a coal terminal in the Port of Beira, according to Brazilian newspaper Noticias. It is also offering support to industries that have potential to grow including the textile and ready-wear segments.
Despite this, Brazil’s minister for development, industry and foreign trade, Miguel Jorge, said it would take time. “It’s not a quick process,” he told the paper. “The Mozambican government has already identified sectors that are important like footwear, garments and textiles and we are working to get Brazilian entrepreneurs interested in setting up in Mozambique.”
Bilateral trade between the two countries from January to October totalled $102.5 million compared with $28.4 million during the same period in 2008.
