afrol News, 15 April - China has been ranked the sixth foreign investor in Mozambique in 2007, investing US $60 million, Mozambique's Investment Promotion Centre (CPI) revealed.

This has been the Asian economic giant's single biggest foreign direct investment in Mozambique in recent years.

"In 2003 China was in ninth place with just over US $1 million," 'Africa Press Agency' quoted Evaristo Cumbane of CPI as saying.

Investing more than US $5 trillion dollars, the United States has become Mozambique's major investor last year followed by Switzerland that invested US $170 million. Other countries are Mauritius [US $151 million], the United Kingdom [US $91 million], South Africa [US $79 million] and Portugal [US $54 million].

The CPI analysed 36 countries, Belgium ranked bottom on the ladder with a single project investment of US $37,000.

With 11 projects, China ranked behind South Africa that has the biggest number of invested projects [69]. Chinese investments have been mainly concentrated on agriculture, public works and forestry.

It is so far the only country that had built its own investment promotion centre in Mozambique.

China, which has built the Joaquim Chissano Conference Centre, has been working hard to improve the water supply in the capital Maputo as well as build a football stadium in its outskirts. The stadium project cost US $57 million.

By staff writer

© afrol News

Related pages and feature

Current afrol News Top Stories