French investors to increase presence in Mozambique

A group of French investors expressed their interest to increase their presence in Mozambique in various sectors especially in energy, infrastructures, banking and services. The French mission composed of representatives of 13 companies made the announcement here on Thursday at the sidelines of a business seminar, the Mozambique News Agency AIM reported. At this moment a total of 25 French companies are active in Mozambique in sectors of logistic, energy, agro-industry and services, while more and more French investors are interested in entering the Mozambican market, said Fabrice Blazquez, the trade and economic advisory from the French Embassy in Mozambique and Swaziland. "There are concrete projects already but we cannot reveal them now," he said. Mozambique was selected because it is registering significant economic growth amid political stability, he said. On the other hand, Mozambique's economic development also need the help of the foreign investors, Antonio Macamo from the Investment Promotion Center (CPI) told reporters. "There are a lot of opportunities in the mining sector. We have a huge development challenge in infrastructures not only to serve the mining sector but to answer to other demands of the country and the neighboring countries such as Malawi, Zimbabwe, South Africa and now Botswana. We also have mega energy projects that need investors to make them viable."