Mozambique calls for Vietnam investors

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maputo
View of Mozambique’s capital Maputo

Mozambique is seeking investment from Vietnam and is ready to support them with a range of incentives, Gamilied Munguambe, Mozambican ambassador to Vietnam, said at the Vietnam -Mozambique Business Forum held in  Ho Chi Minh City on June 15.

Sectors targeted are agriculture, industrial production, infrastructures, finance and banking, seafood processing, mining and telecommunications, he said.

Vietnamese businesses investing in Mozambique will be entitled to incentives including preferential land use fee and tax, as well as preferential corporate income tax, added Aiuba Cuereneia, Minister of Planning and Development of Mozambique.

Specifically, businesses will be reduced by 100 per cent corporate income tax until 2015. The rate will then be halved for the 2016-2020 period, he said.

The government of Mozambique will also consider building at least one special economic zone for Vietnamese businesses operating in agricultural sector.

Mozambique is one of the ten largest export markets of Vietnam in Africa. Vietnam’s main exports to the African country are rice, cement and electronic parts. Vietnam mainly imports raw cashew nuts and processed wood products from Mozambique.

In 2010, the military-run Viettel Telecom Corp won a bid for mobile phone services in Mozambique.

Vietnam and Mozambique look back at long-term friendly relations that date back to the 1960s when both countries started fighting for their self-determination and when Vietnam, together with China, supported Mozambique’s Marxist-oriented Mozambique Liberation Front. There has also been a frequent student exchange between the nations.

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Reading Time: 1 minute

View of Mozambique’s capital Maputo

Mozambique is seeking investment from Vietnam and is ready to support them with a range of incentives, Gamilied Munguambe, Mozambican ambassador to Vietnam, said at the Vietnam -Mozambique Business Forum held in  Ho Chi Minh City on June 15.

Reading Time: 1 minute

maputo
View of Mozambique’s capital Maputo

Mozambique is seeking investment from Vietnam and is ready to support them with a range of incentives, Gamilied Munguambe, Mozambican ambassador to Vietnam, said at the Vietnam -Mozambique Business Forum held in  Ho Chi Minh City on June 15.

Sectors targeted are agriculture, industrial production, infrastructures, finance and banking, seafood processing, mining and telecommunications, he said.

Vietnamese businesses investing in Mozambique will be entitled to incentives including preferential land use fee and tax, as well as preferential corporate income tax, added Aiuba Cuereneia, Minister of Planning and Development of Mozambique.

Specifically, businesses will be reduced by 100 per cent corporate income tax until 2015. The rate will then be halved for the 2016-2020 period, he said.

The government of Mozambique will also consider building at least one special economic zone for Vietnamese businesses operating in agricultural sector.

Mozambique is one of the ten largest export markets of Vietnam in Africa. Vietnam’s main exports to the African country are rice, cement and electronic parts. Vietnam mainly imports raw cashew nuts and processed wood products from Mozambique.

In 2010, the military-run Viettel Telecom Corp won a bid for mobile phone services in Mozambique.

Vietnam and Mozambique look back at long-term friendly relations that date back to the 1960s when both countries started fighting for their self-determination and when Vietnam, together with China, supported Mozambique’s Marxist-oriented Mozambique Liberation Front. There has also been a frequent student exchange between the nations.

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