Mozambique’s well
-known Cahora Bassa
power project
Maputo, Mozambique — ESI-AFRICA.COM — 25 February 2011 – The government of Mozambique aims to attract US$4-billion in foreign direct investment (FDI) this year, which would double last year’s figure, according to the head of the government’s Investment Promotion Centre (CPI).

Revealing this here, CPI general director Lourenco Sambo told Reuters in an interview that his agency would market the country’s energy and mining sectors, as well as agriculture and infrastructure, to foreign investors from India, China and Europe.

“Our major target is to have more than US$4-billion of foreign direct investments in 2011, up from US$2-billion last year when the global financial crisis swept across the world resulting in the downward trend of investments,” he said.

Sambo revealed that a government delegation led by Prime Minister Aires Aly was expected to visit India next month to seek investors.

“We will not deliver a political speech there, but will tell the Indian firms to come and invest in our energy, mining and agriculture sectors where we have potential, and also to improve our trade corridors such as ports and railways,” he said.

Mozambique’s economy grew by 6.2% in 2010, according to the government, and the International Monetary Fund expects it to expand by 7.5% this year.