Moçambic: Invertir a Moçambic
Mozambique is an important destination country for FDI in South-East Africa. The country recorded historically high FDI inflows levels in 2013, reaching more than USD 6 billion, but they have decreased since then. According to the UNCTAD’s World Investment Report 2021, FDI inflows into the country increased by 6% to USD 2.3 billion in 2020, up from USD 2.2 billion in 2019, despite the global economic crisis triggered by the Covid-19 pandemic. In 2020, the stock of FDI was about USD 45.4 billion. According to UNCTAD’ Investment Trends Monitor, global FDI flows rebounded strongly in 2021, but FDI flows to African countries (excluding South Africa) rose only moderately. The implementation of the USD 20 billion investment led by TotalEnergies (France) in the liquefied natural gas (LNG) project has been suspended due to insecurity in Cabo Delgado. The project led by Exxon Mobil in export terminals has also been delayed. Foreign investors are primarily interested in the country's mining, hydrocarbon, energy, logistics, retail and real estate sectors. There is a growing interest in the coal industry. Mozambique's main foreign investors are the United Arab Emirates, Mauritius, China, Italy, the United States, South Africa, Portugal and Turkey.
The government has consistently implemented reforms, maintained sound economic policies, and put in place a privatisation programme for public companies to attract FDI. In addition to its abundant natural resources, the country's access to the sea provides a significant advantage compared to its land-locked neighbours. The country has significant and varied natural resources (energy, mines, agriculture, forestry, and fishing) and its geographical location offers a serious advantage in the transportation field. However, the hidden debts scandal that broke in 2016 tarnished the image of the government and impacted investors’ confidence in the economy. The Islamist insurgency in Cabo Delgado, a key region for gas production causes delays in LNG projects. Mozambique only ranks 138th out of 190 countries in the World Bank 2020 Doing Business report, losing three places compared to 2019. Poor governance, an unstable political and security environment, inadequate transport and port infrastructure, vulnerability to natural disasters and the current sovereign debt crisis are the main factors hampering FDI.
Foreign Direct Investment | 2019 | 2020 | 2021 |
FDI Inward Flow (million USD) | 2,212 | 3,035 | 5,102 |
FDI Stock (million USD) | 42,893 | 46,280 | 50,068 |
Number of Greenfield Investments* | 25 | 8 | 8 |
Value of Greenfield Investments (million USD) | 833 | 672 | 2,457 |
Source: UNCTAD, Latest available data
Note: * Greenfield Investments are a form of Foreign Direct Investment where a parent company starts a new venture in a foreign country by constructing new operational facilities from the ground up.
Country Comparison For the Protection of Investors | Mozambique | Sub-Saharan Africa | United States | Germany |
Index of Transaction Transparency* | 5.0 | 5.5 | 7.0 | 5.0 |
Index of Manager’s Responsibility** | 4.0 | 3.5 | 9.0 | 5.0 |
Index of Shareholders’ Power*** | 7.0 | 5.5 | 9.0 | 5.0 |
Source: Doing Business, Latest available data
Note: *The Greater the Index, the More Transparent the Conditions of Transactions. **The Greater the Index, the More the Manager is Personally Responsible. *** The Greater the Index, the Easier it Will Be For Shareholders to Take Legal Action.
Some of the reasons to invest in Mozambique are:
FDI investment has slowed dramatically since 2015, largely due to a drop in commodity prices (especially coal and aluminium) and slow negotiations in the development of hydrocarbon projects.
Among the factors that hinder FDI inflows there are:
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Actualitzacions: March 2023