US firms commit $16b investment in Mozambique

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United States firms in Mozambique has committed over $16 billion investment in the last ten years.

Mozambique’s deputy foreign affairs and cooperation Minister, Nyeleti Mondlane has said that US private investment in the southern African nation exceeded $16 billion in the past decade pushed by mineral resources and energy.

‘So far, 24 projects have been approved that are likely to create about 4 million jobs, involving private investors in the United States, totalling $16 billion in the oil and gas sector, agriculture, industry, transport, tourism and services,’ said Mondlane addressing guests on the 40th anniversary of the establishment of diplomatic relations.

She added that the level of trade relations is also encouraging and both countries have recorded growth in trade, with exports of about $62 million by Mozambique to the United States in 2012 to about $144 million in 2013.

In turn, US exports to Mozambique fell to $205 million in 2013 from $254 million in 2012.

The deputy minister of Foreign Affairs and Cooperation of Mozambique also pointed out that in the last ten years, the US had positioned itself as the largest contributor to official development assistance to Mozambique, totalling about $2 billion in multifaceted support, focused on the provinces of Sofala and Zambézia in central Mozambique, and Niassa in the north.

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