Portuguese companies invest US$1.5 billion in Mozambique

1 July 2014

Portuguese companies have invested around US$1.5 billion in Mozambique, Mozambique’s ambassador to Portugal, José Augusto de Jesus Duarte said Monday.

Speaking about the State visit by Mozambique’s President Armando Guebuza, to Portugal due to begin Monday the ambassador said that as a result of that investment Portugal was the largest foreign employer in Mozambique and provided jibs to around 34,000 Mozambican citizens.

In the last three years, despite the economic and financial crisis at home, Portugal was the third biggest investor in Mozambique after South Africa and China , which is seen as positive by the director-general of the Mozambican Centre for Investment Promotion (CPI), Lourenço Sambo.

Cited by Mozambican daily newspaper Notícias Sambo, who is leading a group of over 30 Mozambican businesspeople accompanying the President, said that “if we look at the first quarter of this year we can say that Portugal topped the list of biggest investors in Mozambique.”

“From an economic point of view, relations between the two countries are excellent and we hope they will be consolidated further on this visit during which there will be a Mozambique-Portugal business seminar attended by around 200 Portuguese and Mozambican businesspeople,” Sambo said.

The main focus of investments is the energy, construction and tourism industries as well as a considerable number of projects managed by Portuguese investors.

A summit meeting between Portugal and Mozambique recently took place in Maputo, during which 19 agreements were signed and 133 million euros provided for investments in Mozambique. (macauhub/PT/MZ)