Macao-linked deals worth US$150 million signed in Mozambique

Businesses attending an entrepreneurs meeting in Maputo signed 24 co-operation agreements worth a combined US$150 million on 24 July, Macao’s Commerce and Investment Promotion Institute said.

The Entrepreneurs Meeting for Commercial and Economic Co-operation between China and Portuguese-speaking Countries drew more than 350 government and business representatives from the Chinese mainland, Mozambique, Macao, Hengqin and other regions to the Mozambique-China Cultural Centre. Agreements signed on the day span infrastructure, trade, professional services and academia, alongside more than 200 business-matching sessions held during the event.

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As part of the meeting, IPIM brought the Chamber of Commerce of Mozambique on board as a market development partner under its China-Portuguese-speaking Countries Business Platform, aimed at building a deeper business network between Macao and Mozambique.

Officials weigh in on the partnership

Officials at the opening ceremony included Maputo Municipal Council president Rasaque Manhique, Mozambique’s Agency for the Promotion of Investment and Exports director-general Luís José Machava, China Council for the Promotion of International Trade vice chairman Liu Jiannan, IPIM director Sam Lei, and Mozambique’s transport minister João Jorge Matlombe.

Manhique said the meeting strengthened economic ties between China and Mozambique and supports the country’s push to diversify its economy, while Machava pointed to infrastructure investment as a major driver of Mozambique’s future growth.

Matlombe framed the opportunity from Mozambique’s side, pointing to the country’s natural resources and energy potential alongside China’s growing openness to African products, which he said has created “historic opportunities” for Mozambique.

Lei noted that this year marks the tenth anniversary of the comprehensive strategic partnership between China and Mozambique, which the two countries’ leaders upgraded further in April.

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Beyond the meeting itself, the delegation visited Mozambique’s Chinese embassy, along with local business associations, companies, ports and infrastructure projects. IPIM said it will invite participating merchants to Macao in October, where three trade events, the Macao International Trade and Investment Fair, the Portuguese Speaking Countries Products and Services Exhibition, and the Macao Franchise Expo, will run concurrently from 21 to 24 October.

This year’s meeting was jointly organised by trade promotion agencies from Angola, Brazil, Cabo Verde, mainland China, Guinea-Bissau, Equatorial Guinea, Mozambique, Portugal, São Tomé and Príncipe, and Timor-Leste, which will host next year’s edition.