US is biggest foreign investor in Mozambique between January and September

30 December 2011

Maputo, Mozambique, 30 Dec – The United States of America (USA) was the biggest private foreign investor in Mozambique between January and September of 2011, according to figures from the Centre for Investment Promotion (CPI).

CPI figures showed that the USA in the third quarter of this year topped the Foreign Direct Investment (FDI) ranking in Mozambique following the approval of a project from the Biworld International Cement Factory to install a cement plant in Muxúnguè, in Sofala province, expected to cost US$58.5 million.

China and Norway were the second and third-biggest foreign investors in Mozambique in the period.

China benefitted from the approval of four investment projects worth a total US$45.1 million, and the China-Mozambique Cement & Mining Development Company, with a project worth US$34.3 million was the biggest single investor from China.

Norway had an investment project worth US$22.3 million approved. The project is the Sanga Afforestation project underway in the Sanga district of Niassa province.

The CPI’s figures also showed that private investment in the first nine months of 2011 had seen a drop of 83 percent as compared to the amount of investment approved in the same period of 2010. (macauhub)