US companies invest US$16 billion in Mozambique

25 September 2015

US private investment in Mozambique exceeded US$16 billion in the past decade, the deputy minister for Foreign Affairs, Nyeleti Mondlane said Thursday in Maputo, the Mozambican press reported.

“So far, 24 projects have been approved that are likely to create about 4 million jobs, involving private investors in the United States, totalling US$16 billion dollars in the oil and gas sector, agriculture, industry, transport, tourism and services,” said the deputy minister for foreign affairs.

The level of trade relations is also encouraging and both countries have recorded growth in trade, with exports of about US$62 million by Mozambique to the United States in 2012 to about US$144 million in 2013, said Mondlane speaking on the 40th anniversary of the establishment of diplomatic relations.

In turn, US exports to Mozambique fell from about US$254 million in 2012 to about US$205 million in 2013, Mondlane said cited by Portuguese news agency Lusa.

The deputy minister of Foreign Affairs and Cooperation of Mozambique also pointed out that in the last ten years, the US had positioned itself as the largest contributor to official development assistance to Mozambique, totalling about US$2 billion in multifaceted support, focused on the provinces of Sofala and Zambézia in central Mozambique, and Niassa in the north. (macauhub/MZ)