Mozambique needs more investment: PM

Mozambican Prime Minister Aires Ali has urged the Southern African country to attract more investment for development, local media reported on Wednesday.

"We want people to speed up the various initiatives under way to attract investment in our country", he said at the ceremony to swear into office Lourenco Sambo as the new general director of the government's Investment Promotion Center (CPI).

Sambo replaces Mohamed Rafique, who served the post for more than 10 years. The new CPI chief was previously an advisor to Planning and Development Minister Aiuba Cuereneia.

Ali said the government regards it as a priority to expand direct investment to increase the competitiveness of the Mozambican economy, and to ensure continued growth of the country' s GDP.

According to him, the CPI's key task is to improve and adjust legal instruments and procedures for the licensing of investments.

Some of the important sectors, Ali pointed out, include agriculture, agro-industry and fisheries.

Source: Xinhua