Mozambique will invest revenues from natural gas megaprojects in other sectors of the economy to ensure the country's growth and development, said President Daniel Chapo at the opening of the 61st Maputo International Fair (Facim). The Mozambican head of state stated that the Government's strategy is to put money in every citizen's pocket, as economic growth alone is not enough; it must be accompanied by development in various areas.
Mozambique currently has two ongoing investments by TotalEnergies and Eni in the Rovuma basin, while awaiting the final investment decision from ExxonMobil. According to Daniel Chapo, these projects will total around 60 billion dollars in investments over the next 10 years. The liquefied natural gas reserves in the Rovuma basin, off the coast of Cabo Delgado, are classified among the largest in the world.
The President advocated that the country should focus on training small and medium-sized enterprises to provide services to the megaprojects and on the local transformation of wealth through the creation of local industrial capacity. The priority sectors for investing gas revenues include agriculture, industry, mineral resources, energy, tourism, digital transformation, the blue economy and infrastructure.
Facim runs from August 31 to September 5 at the Ricatla International Fair and Exhibition Center in Maputo, with the theme "Digital and energy transformation for a sustainable economy." The organization expects the participation of almost 3,000 exhibitors from 29 countries, including approximately 600 foreign companies and 2,300 national ones, expecting to receive around 55,000 visitors. Brazil is participating as the guest country of honor and Portugal is represented by more than 100 companies with Portuguese capital.
