British firms biggest investors in Mozambique in Q1

18 July 2007

Maputo, Mozambique, 18 July – Companies from the United Kingdom put their country in top spot in the ranking of Mozambique’s largest overseas investors in the first quarter of the year, officials have said.

Mozambique’s state Center for Investments Promotion (CPI) said Tuesday that UK firms had presented projects worth US$ 31.7 million. Firms from South Africa were in second place with investments of US$ 21.3 million, said the CPI.

Tanzania (US$ 13.7 million) and the United States and China, both with US$ 10 million, were the other principal overseas investors in Mozambique in the first three months of the year.

The CPI authorized total foreign investment of around US$ 100 million in the first quarter of 2007, compared to US$ 17.5 million for national investment projects.

Of 47 projects approved from January to March of this year, 17 were in the industrial sector and 14 in hotel and tourism ventures, with the remainder being in a variety of sectors. (macauhub)