Mozambique expected to attract US$10 billion in foreign investment over next three years

22 March 2013

Over the next three years Mozambique expects to receive investments totalling around US$10 billion with the annual approval of around 300 projects, the assistant director of the Mozambican Centre for Investment Promotion (CPI) said in Nacala.

Speaking at the 9th Coordinating council of the Planning and Development Ministry, held in Nampula province, Godinho Alves said that Mozambique was an attractive country for foreign investment and offered opportunities in a number of business areas such as development of infrastructure, agriculture, mining resources and the real estate sector.

He also said that one of the reasons that Mozambique was not very exposed to the international crisis was the diversification of its sources of investment, both in terms of countries and continents, and in terms of business sectors into which the cash is channelled.

As well as from Europe, which is currently facing a public debt crisis, Mozambique receives foreign investment from South Africa, China, Brazil and the United Arab Emirates, which in 2012 was the biggest foreign investor with a project known as the Northern Integrated Logistics Corridor, expected to cost US$800 million.

In 2012, consolidated statistical figures from the CPI, the Office of Accelerated Economic Development Areas (Gazeda) and the Mining Resources Ministry cited by Mozambican newspaper Notícias, pointed to approval of 384 investment projects worth a total of US$5 billion. (macauhub)