Mozambique approves 78 investment projects through September 2009 and India overtakes South Africa

8 January 2010

Maputo, Mozambique, 8 Jan – Mozambique’s Investment Promotion Centre (CPI) approved 78 private investment projects worth an estimated US$677.5 million by the end of last September, the newspaper O Pais reported on Friday.

The CPI data indicate that foreign projects, including loans, represent more than 60 percent of the overall investment value.

Sofala province accounted for the most investment during the period under analysis, where the CPI approved eight projects worth nearly US$300 million.
Maputo city and province are ranked next with investment estimated at about US$200 million.

The CPI figures show that India was the country with the biggest volume of direct foreign investment (DFI) approved in Mozambique through September 2009, overtaking South Africa, which has been the country’s top foreign investor for the last four years.

Other countries on the list of major foreign investors in Mozambique include Mauritius, Portugal, China and the United Kingdom, with South Africa having moved to the seventh position.

Investments approved by the CPI should create up to 5,755 new jobs once project implementation gets under way. The data also indicate that Maputo city and province will benefit from the most new jobs, about 40 percent of the total. (macauhub)