Mozambican President says US-Africa trade summit helps attract investment – Xinhua

MAPUTO, June 19 (Xinhua) – Mozambican President Filipe Nyusi said Wednesday in Maputo that the US-Africa Business Summit was an excellent opportunity to attract investment to the country.

Nyusi spoke at the opening of the 12th Summit of American and African Affairs, which brought together heads of state from 10 countries in the region, domestic and foreign investors, US government officials and entrepreneurs.

"The continent has a financing gap for infrastructure, estimated at between $ 68 billion and $ 108 billion," he said, adding that the trade opportunities offered by the African continent were not properly exploited for lack of funding.

According to the head of state, resource mobilization is essential to accelerate the process of regional economic integration of the continent and to find better ways to negotiate opportunities to preserve the interests of the continent.

"We praise the crucial role that the Business Council for Africa has played in promoting investment and business opportunities on the continent, thus contributing to a better integration of it into the continent. the global economy, "said Nyusi.

The president also said that Mozambique's economic potential would attract foreign direct investment that could contribute to the creation of new jobs and wealth creation.

US Deputy Secretary of Commerce Karen Dunn Kelly, the US government's highest representative at the summit, announced in her speech the new US policy initiative for Africa.

"Prosper Africa's goal is quite simple: we are looking for a substantial increase in investment and trade between the United States and Africa, we will achieve this by focusing on the coordination of the minds of Africa" Kelly said.

According to the US government representative, Prosper Africa will help facilitate transactions and coordinate US agency resources to help US companies better identify business opportunities in Africa.

This is the first time that Mozambique has hosted the summit, whose theme is "Promoting a resilient and sustainable partnership between the United States and Africa", from Wednesday to Friday.