Mauritian company to invest in agro-food industries in Mozambique

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Mauritius has established a company to facilitate investment in Mozambique, particularly in the area of agro-food, sources close to the new company told PANA here.

"We are doing this to solve the problem of food scarcity which had affected us two years ago. There is much potential in our region to increase food production, " declared Ali Mansoor, president of the new company which is called 'Regional Development Company'.

Mansoor said the company was established after the Mozambican government granted Mauritius 23,500 hectares of land, 18 500 hectares of which is in the province of Maputo and 5,000 hectares in the province of Manica.

"The Regional Development Company was created to develop and exploit these lands," he stated and stressed that its task would be to identify the potential investors in the private sector and allocate land to them in those areas.

"We are looking for experienced investors in the area of agro-food who could take up the challenges," said Mansoor, who added that both countries would receive 25% of the products with the rest going to the investor.

"If the two countries renounce their shares, the investor could then sell to any buyer," he specified.

Port-Louis - Pana 28/01/2010
Original source: PANA
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