Mozambique: APIEX approved investment projects worth $7.6B – from 2020 to Q3 of this year

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Mozambique: APIEX approved investment projects worth $7.6B – from 2020 to Q3 of this year

2:33 CAT | 02 Dec 2024

Photo: AIM

Minister of Industry and Commerce, Silvino Moreno, revealed that the Agency for the Promotion of Investment and Exports (APIEX) had approved 1,026 national and foreign investment projects, worth US$7,648,024,463, in the period between 2020 and the third quarter of this year.

The Minister was speaking at the opening of the 1st APIEX Advisory Board, in Maputo city.

The projects include National Direct Investment worth US$1,524,644,134 and Foreign Direct Investment projects, worth US$3,439,810,248, with the remaining amount corresponding to loans and/or grants in an amount of US$2,683,570,081.

“The amount of US$1,070,627,569.72 resulting from the approval of 391 addendums to increase investment will be added to the approved investment, making a total investment of US$8,718,652,033.79,” announced Minister Moreno, at the opening of the 1st APIEX Advisory Board, held in Maputo on Wednesday and Thursday under the motto “Promoting Investment and Exports to Boost the Country’s Economic Growth”.

During the same period, monitoring activities were carried out on 829 authorized investment projects, out of a total of 1,407 planned for the five-year period. Projects actually implemented had created around 7,566 jobs for Mozambicans.

In another development, Minister Moreno stated that the Mozambican government is projecting a moderate growth of gross domestic product (GDP) in the order of 4.3%. From 2027 onwards, GDP growth could exceed 13%, driven by the implementation of new gas projects in the Rovuma Basin, according to the Minister, this growth rate

To reduce the strong dependence on investment in liquefied natural gas (LNG), and as a way of ensuring accelerated GDP growth, the government has been promoting the strategic sectors defined in its Five-Year Program 2020-2024 to diversify the economy.

The activities that APIEX intends to carry out in the next governance cycle (2025-2029) include improving the country’s marketing actions as a preferred destination for Foreign Direct Investment, promoting National Direct Investment, monitoring and retaining investments, as well as business links between megaprojects and national Small and Medium-sized Enterprises.

APIEX also intends to develop proactive advocacy actions in favour of investors, aiming to remove barriers to investment and consequently improve the business environment in the country, through the preparation of proposals for regulatory instruments in the area of investment facilitation and export promotion.

It also plans to promote the diversification and increase of exports of finished and value-added products produced in the country based on local raw materials and ensure the replacement of imports of finished products, especially those that are most consumed in the local market.

The challenges include the decline in international investment in the developing world, as well as the need to build infrastructure to meet domestic and regional demand for energy, connectivity, transport and logistics services.

These services are necessary to unlock Mozambique’s growth potential based on the sustainable exploitation of natural resources, including arable land, gas, rubies, coal, gold, graphite and others.

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