Mozambique: China was sixth biggest investor in 2007

14 April 2008

Maputo, Mozambique, 14 April – China was the sixth largest foreign investor in Mozambique in 2007, providing around US$60 million, on a list topped by the United States which invested just over US$5 billion.

The amount of Chinese investment in 2007 represents 11 projects in areas such as agriculture, aquaculture, public works and forestry (logging).

The country with the biggest number of projects was South Africa,with 67 accounting for just over US$9 million.

A source from the Mozambican Centre for Investment Promotion (CPI) noted the rise that China had seen in investment in Mozambique over the last few years.

“Giving just one example, in 2003 China was in ninth place with just over US$1 million,” said Evaristo Cumbano of the CPI.

China is the only country in the world to have built its own Investment Promotion Centre in Mozambique, a huge building located in central Maputo.

Portugal, Mozambique’s former colonial power, takes seventh place, with just over US$54 million.

After the United States, comes Switzerland (US$170 million), Mauritius (US$151 million), the United Kingdom (US$91 million) and South Africa (US$79 million).

China, which ahs been Mozambique’s ally since its struggle for independence, is also involved in improving the water supply system to the Mozambican capital.

China will also build a football stadium on the outskirts of Maputo costing US$57 million.

The Asian giant also built the Joaquim Chissano Conference Centre, which is the biggest venue of its kind in Mozambique.

Amongst 36 countries analysed, Belgium was placed last with a single project worth US$37,000. (macauhub)