A new rice production and processing plant is on the horizon in southern Mozambique, as part of an initiative by Libyan investors, namely Libya Africa Investment Portfolio.

According to a Radio MozambiqueIn the first phase, the group intends to set up a cereal cultivation and processing unit in Gaza province, with a view to expanding the initiative to other parts of Mozambique.

The investor believes that the project will boost trade and economic cooperation between Mozambique and Libya.

This intention was expressed a few days ago in Maputo, at the end of a meeting between the director-general of the Agency for the Promotion of Investment and Exports (APIEX), Gil Bires, representatives of the Libyan business group and the Libyan ambassador to Mozambique, Saleh Mohamed Elbuaishi.

On the occasion, the president of Libya Africa Investment Portfolio, Mustafa Abofanas, assured that "there are funds to finance the project in the amount required, and the amount will be determined according to the area that will be allocated to the project".

For his part, Gil Bires expressed his satisfaction at the group's commitment to implementing the project, stressing that "the initiative will be important for the country, especially considering its potential to generate a positive socio-economic impact".

Gil Bires also spoke of the importance of setting up this unit in the context of implementing the National Program to Industrialize Mozambique (PRONAI) and its contribution to increasing and diversifying exports.

(Photo DR)