African Investments On The Rise In Mozambique

African Investments On The Rise In Mozambique

From Xinhua in SpyGhana.

More African businessmen are being attracted by the opportunities in the Mozambique — a new phenomenon.

“Africa is regarding Mozambique as a potential market to apply their investments,” said Godinho Alves, deputy general director of Mozambique’s Investment Promotion Center.

The Investment Promotion Center announced on Friday that the country could approve investment projects worth $10 billion US in 2015.

“Last year, we had Swaziland, this year we have Kenya, each year we have an African country entering the national territory for business,” Alves said.

Most of the projects approved are for the management and development of ports, construction of new railway, energy, mining, and natural gas, among others.

Despite African countries increasing investments in Mozambique, United Arabic Emirates topped the list of major investors in 2014.

“The second major investor in 2014 was Mauritius, followed by South Africa, Portugal and China respectively. These are the countries that normally integrate the top 10 list of major investors in Mozambique. But the No. 1 investor varies from year to year, because Mozambique is an attractive country to a number of interested countries” said Alves.

Between 2007 and 2012, India topped the list of the five countries that have large investment in Mozambique, followed by Italy, Portugal, South Africa and Brazil.

Read more at SpyGhana.