Chinese govt sets up fund to spur investment in Mozambique

Mozambican Minister of the Economy and Finance Adriano Maleiane has said the Chinese government has set up a fund to encourage Chinese companies to invest in Mozambique, Jornal Notícias reports.

The Mozambican newspaper quotes Mr Maleiane as saying at an event in Maputo that the fund is provided for in a Sino-Mozambican agreement signed last year, but that its setting-up had to wait for the recent Sino-African summit meeting in Beijing.

“We are embracing this because we are the ones that decided on the projects,” Mr Maleiane said. “This is what we are pushing for, in order not to increase our debt.”

Mozambique is particularly interested in attracting Chinese investment in the finance and insurance industries, and in infrastructure, Jornal Notícias quotes the minister as saying.