Mozambique: China invests US$60 million in Mozambique in 2007

11 July 2008

Maputo, Mozambique, 11 July – China invested over US$60 million in Mozambique in 2007, making it the sixth biggest investor in the country, according to the Chinese ambassador to Mozambique, Tiang Guangfeng.

The diplomat, cited by Chinese news agency Xinhua, said that China had invested in 69 “large projects” in Mozambique and created a centre for investment promotion.

Trade between China and Mozambqiue reached US$284.11 million in 2007, eight times more than in 2001, according to the Chinese ministry of trade.

Chinese exports to Mozambique saw a sharp rise following the Beijing Summit for cooperation between Africa and China that was held in the Chinese capital in November 2006.

Ambassador Tian Guangfeng told Xinhua that there was great potential in the bilateral economic and trade relations namely in the agriculture, infrastructure and construction sectors.

The diplomat noted that China was involved in construction of the national stadium, the Attorney General’s Office and the International Airport of Maputo.

Tian Guangfeng also said that MOzambique was, “on the road to development, reforms and economic openness hsowing great interest in the development and experience of special Chinese economic area,” namely in Zhuhai, Shenzhen and Xiamen. (macauhub)