Investment projects approved in Mozambique total US$3.9 billion

398 projects approved between January and September this year in Mozambique represent a total investment of US$3.9 billion, or US$700 million more than in the same period of 2013, the spokesman for the Council of Ministers said in Maputo.

Henrique Banze, spokesman and deputy minister of Foreign Affairs and Cooperation, said that the approved projects were selected from a total of 403 submitted in the period.

Cited by Mozambican newspaper Notícias, Banze said Sofala leads the list of provinces where most investments were made, with a total of US$1.1 billion, followed by Cabo Delgado, with US$1.054 billion and thirdly, the city Maputo, with US$1 billion.

“In sector terms Transport and Communications leads with 20.27 percent of total investment, followed by Services and Trade, with 14.37 percent and Agriculture and Agro- Industry, with 12.93 percent,” said Banze adding that Aquaculture and Fisheries, Tourism and Hospitality and Energy were other important areas, with a 10.82 percent share of the total. Banze recalled that in 2013 the total amount invested in projects reached US$3.2 billion and in 2012 this figure was just US$1.8 billion, and the projects approved so far this year have the potential to create more than 33,000 jobs.

Banze also reported that in the mining sector in the first nine months of the year 228 licenses were approved, both for exploration and for extraction with Zambezia province topping the list with 48 projects, followed by Cabo Delgado, with 45, and Manica and Tete, with 29 and 28 projects, respectively.