Mozambique: Foreign investment creates more than 73,500 jobs

4 December 2008

Maputo, Mozambique, 4 Dec – Startups of various foreign direct investment projects in Mozambique in the last four years generated more than 73,500 work posts, Prime Minister Luisa Diogo has told MPs in Parliament.

Maputo daily Noticias reported that Diogo said the foreign direct investment projects represented an inflow of US$ 6.2 billion into Mozambique. She also told lawmakers inflation has been kept in check and the national currency has been stable in the period in question, creating a scenario to help the country register annual economic growth of between 7 to 8%.

National production in the same period increased, with exports hitting a value of US$ 1.5 billion in 2004 to around US$ 2.6 billion forecast for this year.

Diogo also told Parliament that upgrading and building of highways is a key aspect of her government’s program and that the country’s road network plays a major role in developing citizen’s initiatives, as well as facilitating circulation of people and goods.

Public Works and Housing Minister Felicio Zacarias said rebuilding of the Xai-Xai/Chissibuca section of the EN1 highway will get underway in March 2009. The government is seeking funds for other sections of highway because the various projects to have been presented to date are beyond the state’s financial capacity. (macauhub)