Mozambique approves investments worth US$5.8 billion in investments in 2009

17 February 2010

Maputo, Mozambique, 17 Feb – The Mozambican Centre for Investment Promotion (CPI) in 2009 approved projects valued at a total of US$5.8 billion, which created 125,000 jobs in several sectors, including agri-forestry, hotels and tourism.

The director of the CPI, Mahomed Rafique, said Portugal, India, Mauritius and Norway were some of the countries that invested in agri-forestry, especially in plantations for paper production.

In 2009, Mozambique approved “two substantial projects” for production of paper, the results of which will be seen within seven years, Rafique said Monday in Maputo.

In December, the Mozambique government granted Portuguese group Portucel 173,000 hectares of land for a eucalyptus plantation project, which will be concluded with the construction of a pulp factory in Zambézia province, central Mozambique.

Last year Green Resources, a Norwegian-owned company, presented a proposal to the CPI to plant 180,000 hectares of trees in a 15-year period, projections which point to the possibility of creating 7,500 jobs in Nampula province in northern Mozambique.

In 2009, “we had satisfactory results” said Rafique noting that the volume of foreign direct investment presented to the CPI exceeded US$6 billion. (macauhub)