Mozambique and the European Union (EU) today signed a financing agreement for five projects in the country, each budgeted at between 130 and 140 million euros.

Energy, digitalization, the blue economy and technical and vocational training are the areas covered.

The agreement was signed at the Mozambique-European Union Global Gateway Business and Investment Forum kick-off in Maputo.

The two-day event aims to map out strategies to attract investment to Mozambique, as part of the European Union's Global Gateway initiative.

"Our conviction and expectations for this Business and Investment Forum are based on the strategic partnership of the European Union, as our largest multilateral trading partner, and on the certainty that it is better to invest and do business in Mozambique and with Mozambicans," said Silvino Moreno, Minister of Industry and Trade.

He added that "our joint commitment is to hold this event on a regular basis with active business participation and benefit".

For his part, Prime Minister Adriano Maleiane said that the Mozambique-European Union Business and Investment Forum was intended to establish a privileged platform to promote and increase investment and trade between the two countries, increasingly involving the business sector.

Simoni Santi, president of the Association of European Entrepreneurs in Mozambique, said that these were projects that, on average, cost between 130 and 140 million euros each. "So I think the European Union is an extremely important partner for the private sector," he said.