FACIM 2024: Nyusi highlights investments of 10 billion dollars since 2019

At the opening of the 59th edition of the Maputo International Fair (FACIM 2024), the President of the Republic, Filipe Nyusi, pointed out that Mozambique has seen a significant influx of investment over the last five years, totaling more than 10 billion dollars.

During his speech, Nyusi specified that these investments were distributed across crucial sectors of the national economy, with 40% going to energy, 18% to tourism, 15% to industry, 14% to services, 5% to construction, and the remainder to other economic activities. He stressed that such investments played a crucial role in the growth of the Gross Domestic Product (GDP), which reached 3.2% in the first quarter of 2024, in conjunction with government and central bank policies.

The President also highlighted the diversification of the national trade balance, pointing out that Mozambican exports mainly include primary extraction and energy products, such as electricity, coal, natural gas, aluminum and agricultural products. He mentioned that Mozambique has been expanding its export markets to countries such as India, South Africa, China, the United Kingdom, and others.

“These situations are coupled with low inflation with solid economic growth trends, the flow of investments, exports and exchange rate stability,” said Nyusi.

Nyusi called for an increase in the quality and quantity of exported products to make Mozambique more competitive, especially with the major projects underway in the Rovuma basin in Cabo Delgado province.

FACIM 2024 is taking place at the Ricatla International Trade Fair and Exhibition Centre in Marracuene, Maputo, with the theme “Industrialization: Innovation and Diversification of the National Economy”. The event, which runs from August 26 to September 1, has attracted 2,300 national and 650 foreign exhibitors from 25 countries, highlighting Mozambique’s potential in production, exports and investment opportunities.

The fair continues to be a key platform for exchange and cooperation, with activities including exhibitions, seminars and contact exchanges, consolidating Mozambique’s image as a promising investment destination.