Chinese companies present investment projects in Mozambique

Three Chinese companies have submitted proposals for real estate investment in the districts of Boane and Marracuene and Matola, in Maputo province, to Mozambique’s Trade and Investment Agency (ICA), according to Mozambican daily newspaper Diário de Moçambique.

According to the newspaper, which is published in Beira, the SC-Square Circle company intends to invest US$2 million in Boane district, and is also interested in public works and other areas in the district.

The China Road & Bridge Corporation wants to invest US$4.2 million in the construction of buildings for administrative services, a shipyard and machine park, warehouses and housing for workers in the Marracuene district.

China Jiang International Mozambique Investment was another of the three Chinese companies that last year made investment proposals to the Mozambican agency.

The Trade and Investment Agency was established by the government in November 2016. It is a public institution resulting from the merger of the Investment Promotion Centre, the Office for Economic Areas with Accelerated Development and the Institute for Export Promotion, which were closed on the same date.

The newspaper reported that the investment by Chinese companies in Mozambique is diverse, despite being more evident in construction and trade, and noted that a project to build a factory in the Matola industrial zone for the production of plastic bottles was being analysed, as part of an investment estimated at US$39.7 million.

The newspaper also reported that in 2016 in Maputo province alone Chinese companies invested about US$400 million, of which US$118 million was foreign capital.

Source: Macauhub