Investment in Mozambique falls 74.5 pct in 2015

gov_mozambique_ministers

The value of investment projects authorised in Mozambique fell by 74.5 percent in 2015 over the previous year to US$1.7 billion, according to figures from the Centre for Investment Promotion (CPI).

The CPI data, cited by Portuguese news agency Lusa, showed that foreign direct investment (FDI) fell by 60 percent, Mozambican investment decreased 83.2 percent and loans and supplies fell 94.1 percent.

Spain leads the list of projects approved, with a total of US$320 million, ahead of China and the United Arab Emirates, in a list in which Portugal ranks fourth and South Africa fifth.

Foreign direct investment totalled US$991 million, of which 75 percent came from the top five countries. This investment was mainly channeled into industry, construction, public works and services and was also concentrated in the Mozambican capital and Maputo province.

Mozambican direct investment totalled US$382 million, in addition to supplies and loans worth US$414 million.

In Mozambique in 2015 there was a cooling of economic growth, with gross domestic product (GDP) rising by 6.1 percent, down 1.1 percentage points compared to growth in 2014, due to a strong devaluation of the metical against the dollar, increased inflation and falling foreign investment and foreign aid.

source: macauhub

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