Mozambique’s industrial and economic duty free areas have attracted US$1 billion in investments

9 December 2011

Maputo, Mozambique, 9 Dec – Investments approved for duty free industrial areas and special economic areas across Mozambique currently total around US$1 billion, the country’s minister for Planning and Development, Aiuba Cuereneia said in parliament.

During a session of government questions, Cuereneia noted the social and economic impact of creating industrial duty free areas and special economic areas, and noted that, of the US$1 billion invested involving 53 projects, most of US$580 million were applied in industrial areas and economic areas accounted for US$357 million.

“The process of approval of the Crusse and Jamali Integrated Tourist Resort Area, involving an investment of around US$900 million and with prospects for creating around 3,000 jobs,” the minister noted, according to Mozambican daily newspaper Notícias.

According to the Planning and Development Minister, of the 53 approved projects, 74 percent were in operation and 8 percent were being executed meaning that 38 percent of total planned investment has already been carried out, accounting for just over US$135 million.

As well as this, the minister said, these projects would make it easier for a number of small and medium-sized companies to spring up around them. (macauhub)