Mozambique’s Centre for Investment Promotion plans to attract investments of US$17 billion

17 February 2012

Maputo, Mozambique, 17 Feb – The Mozambican Centre for Investment Promotion (CPI) over the next three years plans to attract investments of US$17 billion the assistant director of the CPI, Godinho Alves said Thursday in Maputo.

According to the Mozambican press, that amount of investment will come from 1,250 projects across a variety or business sectors and will create at least 1,000 jobs.

However, Alves said that in order to achieve that target it would be necessary to modernise legislation on investments, which needs to be adapted to the reality of the country in order to improve its business climate.

The other challenge is related to the need to expand the CPI’s coverage of other parts of the country by opening delegations in all of the country’s provinces, as compared to the five where it is currently represented.

The plan to expand the CPI does not end there as it plans soon to move into China and Brazil, according to Mozambican news agency AIM.

“We have had traditional investors like Portugal and South Africa that have always been in the top ten. Now we have China and other emerging economies that are looking to diversify their markets and seek resources,” said the assistant general director of the CPI.

From 2005 to 2011, the CPI approved 1,400 investment projects totalling an estimated investment of US$22 billion, which created 170,000 jobs. (macauhub)