Mozambique exhibits its potential at economic forum in Italy

27 September 2012

The Confederation of Economic Associations of Mozambique (CTA) will exhibit the economic potential of Mozambique at an economic forum between Mozambique and Italy, due to take place next month in Rome, the CTA said in a statement published in Maputo.

The CTA is inviting Mozambican businesspeople to be part of a delegation to be led by Foreign affairs and Cooperation Minister, Oldemiro Baloi, that is due to travel to Italy between 15 and 21 October.

Foreign Direct Investment (FDI) figures for the first half of this year, compiled by the Investment Promotion Centre (CPI), rank Italy in 10th place, with a single project worth just over US$2 million, on a list headed up by Portugal, which invested just over US$116 million in five projects in the same period.

Until the end of 2011 Italy had made investments in Mozambique of US$160 million, and up until that time trade totalled just over US$400 million, according to the Mozambican Institute for Export Promotion (Ipex).

Following entry into the Mozambican market by ENI, one of the oil companies involved in searching for oil and gas in the Rovuma basin in northern Mozambique, Italy is expected to become one of the main foreign investors in Mozambique. (macauhub)