Mozambique Energy Industry: Norway aims investment increase with focus on energy sector

Norwegian Foreign Minister Borge Brende

Norwegian Foreign Minister Børge Brende announced on Monday in Maputo his country’s intention to increase investment in Mozambique, highlighting the energy sector as a priority, the Mozambican press reports.On the sidelines of the Norway Business Forum, Brende said that besides energy there was also interest in furthering cooperation in the fisheries sector, which he called a “strong catalyst for the economies of countries with direct access to the sea.”

Despite optimism about Mozambique’s future, Brende said that the current situation, marked by devaluation of the metical, the rising cost of living, higher inflation and a political crisis between the government and opposition, is a major challenge and also a time for the country to learn.

Mozambican Industry and Trade Minister Max Tonela said in turn that Norway has been one of his country’s most important partners, adding that this was the right time to reinforce partnerships between private companies from the two countries.

Also on Monday, the Confederation of Economic Associations (CTA) and its Norwegian counterpart, the Norwegian African Business Association (NABA) initialled in Maputo a memorandum of understanding that sets the bases for business-related interchanges. (source: Macauhub/MZ)

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