Nacala Special Economic Zone, Mozambique, receives US$280 million in investments

2 March 2011

Nacala, Mozambique, 2 March – Businesspeople from Tanzania, South Africa, India, the United Kingdom, Italy, Portugal and Mozambique have so far invested over US$280 million in projects located in the Nacala Special Economic Zone (ZEEN), the head of ZEEN said.

Cited by the Mozambican press, Branquinho Nhombe said that of that amount, US$144 million had been invested in 2010, US$84 million by Mozambican investors and US$60 million by foreign investors.

Nhombe also said that in the first two years since the Special Economic Zone had been set up 18 companies had been licensed and certified by the Office for Economic Zones of Accelerated Development (Gazeda), some of which were already operating.

He said that 11 of the licensed and certified companies were from the industrial sector, two from the tourism sector, three from the services sector and the remaining two from the agri-industrial sector.

The industrial sector companies include future factories for grain, biscuits, cement and zinc, as well as the oil refinery, “which, according to our projections, will provide over 6,000 jobs to local residents.”

The head of ZEEN also said that the Industrial Duty-Free Area had been chosen, and the central government was currently working on gathering funds with a view to setting up and developing facilities in that area, specifically expanding the port of Nacala, converting the military airport into a civilian airport and rebuilding the railway line that runs along the Northern Development Corridor, including the branch lines that serve neighbouring countries. (macauhub)