Foreign direct investment in Mozambique totals US$9 billion in 2007

24 October 2007

Maputo, Mozambique, 24 Oct – Foreign direct investment (FDI) in Mozambique is this year expected to total US$9 billion, the director of the Center for Investment Promotion, Mahomed Rafique said in Maputo.

“With the projects that have been approved for the Nacala refinery, US$5 billion and the ethanol factory, a further US$510 million and two other big projects under analysis we will reach US$9 billion at the end of the year,” said Rafique.

Rafique said that FDI in 2005 was US$1.2 billion and US$1.1 billion in 2006.

“2007 is an exceptional year,” said Rafique adding that Mozambique had immense potential for foreign investment and that, “next year we will do even better.” (macauhub)