Mozambique shifts FDI focus to China

Garment and textile manufacturing as well as cashew and fruit processing have been identified as some of the light industry and manufacturing sectors that Mozambique will be marketing in a bid to woo China for FDI.

The sectors were mentioned in a statement issued by the International Trade Centre (ITC) following a decision to develop a strategy along with Mozambique’s Agency for Promotion of Investment and Exports, “for attracting Chinese FDI into the south-east African nation’s agro-processing and light manufacturing sectors”.

The strategy will primarily consist of a multi-year roadmap for targeting new investors, nurturing new ones and working with investment climate stakeholders to achieve industry-stimulating reforms in the four highlighted sectors.

“Mozambique’s leading source countries for FDI inflows have shifted from Portugal and South Africa to China,” the ITC said.

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