The Mozambican government has announced that Vietnam has expressed interest in increasing the volume of Mozambican coal imports, with the aim of strengthening its industry and boosting electricity production. The intention was presented during a meeting in Hanoi between the management of Vietnam National Coal & Mineral Industries (Vinacomin) and the President of the Republic of Mozambique, Filipe Nyusi, as part of a three-day official visit to Vietnam.
The Deputy Minister of Mineral Resources and Energy, António Saíde, highlighted the importance of this initiative, explaining that 65% of electricity in Vietnam is generated from fossil fuels, with coal playing a crucial role. “We are available to receive investments and promote economic cooperation between the two nations,” said Saíde.
Increased exports of Mozambican coal to Vietnam will bring significant benefits to both countries, including reduced costs and increased revenues. Mozambique has one of the largest coal reserves in the world, with the Moatize mine in Tete province holding proven reserves of 1.9 billion tons.
In 2022, bilateral trade between Mozambique and Vietnam reached more than 177 million dollars, representing an increase of 16% over the previous year. Vietnam exports rice, textiles, machinery and equipment to Mozambique, while it imports cashew nuts, wood and coal.
