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Facts on Mozambique
Why Invest in Mozambique? Mozambique has emerged to become one of the most dynamic economies in Sub-Saharan Africa. Foreign investment in Mozambique is governed under the Law on Investment, No. 3/93 of June 24, 1993. Additional amendments were passed in Decree No. 12/93 on July 21, 1993, and Decree 37/95, on August 8, 1995. The law does not make distinctions based on investor origin, and does not limit foreign ownership or control of companies. To encourage direct foreign investment, a variety of tax incentives are available. They vary according to the region of the country and the nature of the investment concerned, but often include a 50 to 80 percent reduction in the industrial contribution and supplemental taxes. Customs exemptions are possible for the importation of capital equipment and raw materials. Mozambique is one of Africa 's success stories and is making economic progress. Its proximity to South Africa has resulted in a range of major projects supporting continued high levels of growth. Mozambique 's economy continued to grow at a fast pace of 7,3% in the first half of 2005, on the back of a few giant and largely South African-financed ventures. Indicators such as inflation, which continues to decline, show that the country's economy is likely to stay on its successful growth path. The World Bank Institute stability indicator rates the country more stable than South Africa due to its peaceful political climate. Credit rating agency gave Mozambique a B-grade in its first assessment of the country under a UN-funded programme. It also rates low on the corruption perception index with 2,8 out of ten, compared to South Africa 's 4,5. All this bodes extremely well for the economy and during 2005, 52 of the larger South African-led infrastructure and construction projects attracted foreign investment of $93.7-million, accounting for 58% of total direct foreign investment. This figure excludes smaller tourism and business-related projects, and represents a 34% increase compared to 2004 figures. Background Portuguese is the official language although English is widely used in business. People are vibrant and friendly, the coastline and beaches are simply breathtaking and if you are into seafood - you could not wish for anything more: giant prawns, crabs, lobster and fish are in abundance - washed down with excellent local beers. Mozambique enjoys an almost carnival atmosphere, and its culture is a heady mix of Portuguese and Arab African. There is lots to see, including world-renowned beaches, World Heritage sites, funky colonial architecture and colourful local culture. Mozambique also boasts some of the best yacht charter, scuba diving and fishing in the world. Mozambique is blessed with the strongest coastal assets in southern Africa. Its coastline remains unexplored and has a very diverse landscape, flora and fauna. Marine life is present in large quantities and international diving and fishing experts praise its quality. Large marine species such as dolphins, whales, whale sharks, manta ray, turtles, and the rare dugongs, make up a diverse and interesting coastal experience. Even within Africa, Mozambique remains a relatively unexplored country with true wilderness areas and opportunities to experience the real African life. The local scenery is largely unspoiled and, with the exception of the more densely populated areas, the landscapes remain largely unaffected by human interference. No industry exists outside a few industrial zones surrounding the cities and large scale agriculture is very limited. Mozambique is blessed with a scenic landscape and travelling between tourism destinations is an experience in itself. The rural areas of the country offer a wide variety of landscape and eco-systems and provide a rich and varied platform for the development of a thriving nature and wildlife based tourism sector. All Mozambique’s neighbouring countries have an Anglo-Saxon past. Mozambique is the only country in the region that offers a cultural environment with a rich heritage of Arabic, Portuguese and African influences. This is reflected in its daily life through history, architecture, language, local cuisine, arts and cultural expressions. Location Mozambique stretches for 1,535 miles (2,470 km) along Africa's southeast coast. It is nearly twice the size of California. Tanzania is to the north; Malawi, Zambia, and Zimbabwe to the west; and South Africa and Swaziland to the south. The country is generally a low-lying plateau broken up by 25 sizable rivers that flow into the Indian Ocean. The largest is the Zambezi, which provides access to central Africa. Other
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