Foreign direct investment (FDI) fell in 2019 in Mozambique to the lowest value recorded since 2010 with a total of US$1.991 billion, according to data compiled by the Bank of Mozambique and cited by Mozambican newspaper A Verdade.
More than half of the FDI recorded last year was carried out by Vale Moçambique, of Brazilian group Vale and by partners in the Northern Development Corridor, and the major natural gas exploration projects have invested just US$898 million.
The data compiled by the Bank of Mozambique shows that the major projects remain the main destination of foreign direct investment, with a total of US$1.1 billion, of which US$979.8 million were channelled into the coal sector and carried out by Vale Moçambique and its partners.
The second sector that received the most FDI in 2019 was Transport, Storage and Communications with US$365 million dollars, followed by Manufacturing (food, beverages, tobacco, textiles, and others) that received investments of US$152 million.
The agriculture, hunting and forestry sector, which is considered the basis of development in Mozambique, continues to receive very little investment, receiving a total of US$53 million.
2019 was marked by disinvestment in the production and distribution of electricity, gas and water, with negative US$20.4 million. (macauhub)