Mozambique: Portuguese companies invest US$350 million over last 10 years

3 September 2008

Maputo, Mozambique, 3 Aug – Portuguese companies have invested US$350 million in Mozambique over the last 10 years, a source from the Mozambican Centre for Investment Promotion (CPI) told macauhub.

Figures provided by CPI said that Portuguese companies had invested in infrastructure, telecommunication and information technology, tourism and hotels, amongst other sectors.

Trade between the two countries in 2007 exceeded US$165 million, according to Mozambique’s Institute for Export Promotion (Ipex).

In terms of trade, Ipex sources said that Mozambique had, amongst other goods, sent to Portugal, seafood and sugar, which accounted for 82 percent of Mozambique’s exports to its former colonial power.

The Portuguese pavilion at the 44th edition of the Maputo International Fair (Facim), which opened Monday, has 34 participants, including Abrantina (construction), Anemm (Metallurgy and Electromechanical Companies Association), Efacec (Electricity), Galapa (Meat Industry), Grupo Teixeira Duarte (Construction), Vinhos Borges (Wine), Lacticínios do Paiva (Milk Products).

Portugal opened up a US$125 million credit line for Portuguese companies and business owners that plan to invest in the energy, tourism and manufacturing industries in Mozambique. (macauhub)