LAIP is leading negotiations in Maputo to recover the Bela Vista rice project, seized by Mozambique in 2020.
A high-level delegation from Libya Africa Investment Portfolio (LAIP) arrived in Maputo on Sunday as part of a mission to recover a vast rice project seized by Mozambican authorities in 2020.
Led by Mustafa Abu Fanas, Chairman of the LAIP Board of Directors, the delegation is engaging in crucial diplomatic efforts to resolve this dispute.
LAIP said the visit constitutes a major step in ongoing negotiations with Mozambican authorities regarding the 20,000-hectare rice growing project.
Launched in 2009 in the Matutuine district, in the province of Maputo, the Bela Vista rice project, valued at US$30 million, was seized by Mozambican officials at the end of 2020. Since then, diplomatic efforts Intensive efforts, led by Al-Buaishi, were deployed to find a way out of this situation.
The outcome of the delegation’s visit could have significant repercussions on the future of the project and on economic relations between Libya and Mozambique.
LAIP, the Libyan government’s sovereign wealth fund, manages a diversified portfolio covering several sectors and geographic regions. Its strategic approach aims to generate sustainable long-term returns through carefully selected investments in global markets.
JN/lb/ac/APA
