Foreign direct investment in Mozambique exceeds US$1.1 billion in first half

12 August 2011

Maputo, Mozambique, 12 Aug – Foreign direct investment (FDI) in Mozambique in the first half of the year totalled US$1.1 billion compared to nUS$601.2 million in the same period of 2010, the Mozambican press reported citing figures from the Centre for Investment Promotion (CPI).

Over the first six months of the year the CPI approved 114 new investment proposals totalling the announced funding, and the Transport and Communications sector accounted for 45.1 percent of the total with new investment proposals totalling US$512.4 million.

The next biggest sectors for investment were Energy and Industry, which accounted for 13.8 percent and 7.1 percent of total FDI, respectively, according to the CPI.

Overall the 114 new foreign investment proposals are expected to create 18,760 new jobs, with the Transport and Communications sector providing 24.7 percent of that total.

The Agriculture and Agri-industrial sector received 17 new foreign investment proposals worth just over US$7 million, accounting for 12.2 percent of new jobs and 6.3 percent of the funding to be applied in Mozambique over the next few years. (macauhub)