The President of the Republic, Filipe Nyusi, has announced that South Korea will invest one billion US dollars in Mozambique. This investment is part of a broader package of 14 billion dollars that South Korean companies will allocate to the African continent.
At a press conference held after his participation in the Korea-Africa summit, Nyusi clarified that, unlike other situations in which natural resources are exploited by foreigners without significant benefit to the country, this investment will be channelled into concrete projects that promote economic and social development. The President stressed that Mozambique expects to receive, by way of loan, around one billion dollars by 2030.
Nyusi highlighted the importance of defining priority areas for these investments, ensuring that projects are viable and deliver a return. He emphasised that, although all sectors are important, it is crucial to prioritise those that can provide the greatest benefits to the country.
This South Korean investment is seen as a significant opportunity for job creation and sustainable development in Mozambique. Nyusi said that projects must be designed and implemented immediately to ensure that the country benefits fully from this medium-term partnership.
