VOL. NO: 53      DATE:

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Complied by Cass Gilroy-Business Editor

Japanese businesses urged to make investments in Mozambique

ON an official visit to Japan, Mozambican President, Armando Guebuza, opened a seminar on investment in Mozambique, organised by the Japanese External Trade Organisation (JETRO), and urged Japanese businessmen to put their money in Mozambique.

He told the Tokyo seminar that Mozambique possess a strong commitment to welcoming Japanese companies, giving them the necessary support to establish and develop their undertakings on Mozambican soil.

In particular, he invited Japanese companies to take part in the international tender, to be launched later this year to licence those companies that wish to prospect for oil and natural gas in Mozambique.

Mozambique has proven reserves of about 3.5 trillion cubic feet of gas in the southern province of Inhambane, currently being exploited by the South African petro-chemical giant SASOL.

The geology of the country suggests that there should be other gas and oil fields, and a variety of companies have been looking for these hydrocarbon resources on and off-shore.


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