The governments of Mozambique and Italy signed in Maputo on Wednesday a memorandum of understanding to cooperate and facilitate initiatives of Italian business people to develop the Mozambican energy sector, AIM reported.
The agreement was signed between the Mozambican Energy Minister, Salvador Namburete, and his Italian counterpart for Economic Development Claudio Scajola.
On the occasion, Namburete explained that the objective of the agreement is to develop the country's Energy sector, in partnership with Italian business people.
He added that the agreement covers all energy areas, because Mozambique has a huge potential that needs developing.
"The memorandum that we have just signed is part of cooperation between the two countries, particularly in the sector of energy. This protocol intends to encourage different business initiatives and involve Italian companies in Mozambique in new areas of production of energy. We are talking about wind, solar and even water energy, because we have a potential that must be developed," he said.
For his part, Scajola explained that the memorandum intends to intensify cooperation between the two countries in the area of energy, and he noted that this is the first memorandum that Italy signs with a country in Southern Africa.
"With this agreement we intend to intensify our cooperation with Mozambique in the wind, solar and hydroelectric energy, and in transporting it," he said.
Scajola stressed that Italy cooperation with Mozambique has been growing and Italy wants to develop business between the two countries.
"Italy thinks that Africa is a continent with a future, and Mozambique, because of its privileged geographic position in Southern Africa, can play an important role," he said, stressing that "the pacification policy, tranquility, and good governance in Mozambique are important factors to facilitate foreign investments in the territory."
Scajola mentioned some Italian companies that are already operating in Mozambique, including ENI, involved in prospecting for oil in the Rovuma Basin, in the north of the country.