Mozambique has received over US$16 billion in foreign direct investment (FDI) in the last five years, between 2010 and 2014, according to figures from the Ministry of Planning and Development.
The investment was focused, for the most part, on natural resources, especially coal and oil and gas research in the Rovuma basin in the province of Cabo Delgado, also according to official figures cited by Mozambican daily newspaper Notícias.
The Ministry of Planning and Development said in a statement that FDI recorded from 2010 to 2014 resulted from changes in legislation, especially the legal framework of the mining sector, which culminated in the adoption of the new Mining Law and the oil Law and an updated Policy and Strategy for Mining Resources.
“The new Oil Law offers more stability for companies and greater flexibility in Mozambique,” the newspaper said adding that the new law included supply guarantees for the domestic market, with a quota of at least 25 percent of the oil and gas produced in the country, provision for natural gas liquefaction and the conversion of gas into liquid fuels. (macauhub/MZ)