Summary
Mozambique is hosting its annual Maputo International Trade Fair to attract foreign investment and promote economic growth. The event emphasizes Mozambique's resources and the need to support local businesses through initiatives like a new $40 million fund to assist small and medium enterprises. The government aims to leverage its natural resources and improve economic conditions amid various challenges.
Key Facts
- Mozambique is holding the 60th annual Maputo International Trade Fair with over 3,000 exhibitors from nearly 30 countries.
- The country promotes its resources, such as arable land and natural gas, for foreign investment.
- A $40 million Mutual Guarantee Fund is launched to finance small and medium businesses, focusing on women and young entrepreneurs.
- The fund aims to overcome high interest rates that hinder small business growth.
- President Daniel Chapo stresses the importance of creating a good environment for investors and supporting local economic independence.
- Mozambique's projected GDP growth for 2025 is 3 percent, down from 5.4 percent in 2023.
- The country faces economic challenges, including past corruption scandals and slow recovery from them.
