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Mozambique Foreign Direct Investment Falls 26% in 2012

Jan. 11 (Bloomberg) -- Foreign direct investment approved by Mozambique’s Investment Promotion Center fell 26 percent in 2012 from a year earlier, the investment agency said.

Foreign investments declined to $725.8 million last year from $974.5 million, the Maputo-based agency said today in an e-mailed statement. The investments approved by the agency were for industries including farming, banking, construction and tourism, it said.

The agency didn’t take into account some mining and gas exploration investments that were given the go-ahead last year, said an official who asked not to be named in line its policy.

To contact the reporter on this story: Henrique Almeida in Lisbon at halmeida5@bloomberg.net

To contact the editor responsible for this story: Jerrold Colten at jcolten@bloomberg.net

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