Dubai Chamber opens international office in Maputo, discusses strengthening investments with Mozambican Prime Minister
As part of its strategy to reach out to the appealing markets of the world, specifically the African markets and to promote Dubai and the competitiveness of its business community globally, the Dubai Chamber of Commerce and Industry opened its 3rd international office in Africa in the Mozambican capital of Maputo just recently.
The brand-new office , which is the 5th global office set up under Dubai Chamber's international expansion strategy covering offices in Baku, Addis Ababa, Erbil and Accra to promote and draw in foreign financial investments to the emirate, is viewed as a window for UAE companies wanting to broaden in sub-Saharan Africa and to explore lucrative investment chances in these untapped markets of the continent.
The opening of the worldwide workplace in Mozambique began the side-lines of the Chamber's trade mission to both South Africa and Mozambique, that included a delegation consisting of Dubai's most popular business people and choice makers from key economic sectors.
Inaugurated by H.E. Majid Saif Al Ghurair, Chairman, Dubai Chamber who likewise led the delegation, the opening event in Maputo was participated in by H.E. Joaquim Chissano, Former President of Mozambique, and Former Mozambican Prime Ministers H.E. Luisa Dias Diogo, and H.E. Aires Ali in addition to H.E. Ernesto Max Tonela, Minister of Industry and Trade of Mozambique, H.E. Asim Mirza Al Rahma, UAE Ambassador to the Republic of Mozambique.
Throughout the opening of the Maputo workplace, H.E. Al Ghurair explained that the brand-new office assesses Dubai company neighborhood's heightened interest in the Mozambican market. He also stressed on the Chamber's seriousness in strengthening its private sector's existence in African markets based on Dubai's know-how and experience which he said serve as strong tools to facilitate their entry into these profitable markets.
H.E. Al Ghurair included: "Dubai Chamber's company expansion strategy into the African market is based on the directive of H.H. Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice-President and Prime Minister and Ruler of Dubai, to solidify our bilateral relations and encourage company and investment with Africa.
Notifying about Dubai's non-oil trade with Mozambique in 2015, H.E. Al Ghurair said that this amounted to AED 724 million which is not very significant in light of the possible had by the two countries, adding that these figures can be increased 10 fold if both the trading partners totally utilised their capabilities to develop cooperation and this can include operating direct air travels.
He hired Mozambican business to strengthen their presence in Dubai, as presently there are 29 companies signed up under Dubai Chamber subscription from the 12,000 African business operating in the emirate, he included.
H.E. Al Ghurair admired the assistance supplied by the UAE Embassy in Mozambique for assisting in the activities of the trade mission and for their support to the economic sector in getting rid of obstacles dealt with by the UAE financiers.
On his part, H.E. Ernesto Max Tonela, Minister of Industry and Trade of Mozambique, who attended the event and opened the Chamber office , stated that this is a significant step in improving cooperation ties in between the two nations as he revealed his government's commitment to supporting the new office in promoting joint financial investments while making Mozambique a gateway for Emirati investments in the south African region.
He stated: "We are anticipating attract UAE financial investments to Mozambique as these will add to the economic development and job development while the nation has a number of arrangements and partnerships with the European Union and African countries (tripartite agreement FTA), which will allow many advantages for UAE financiers in these markets."
On his part, H.E. Asim Mirza Al Rahma, UAE Ambassador to the Republic of Mozambique, mentioned that the Chamber office will open up the doors to boosted cooperation and mutual financial investment chances as he also advised to expedite the continuous settlements for the finalizing of avoidance of double taxation which he said will result in motivating UAE businesses to invest in the Mozambican market.