The 56th Maputo International Fair will conclude today
The 56th Maputo International Fair (FACIM), Mozambique’s largest multi-sector trade fair, will conclude today.
FACIM is focused on attracting international investment while internationalizing the presence of Mozambique’s national companies. While the COVID-19 pandemic has damaged Mozambique’s attractiveness for investment and its economy more broadly, $750 million worth of projects were approved in the first half of 2021 indicating that these complications were temporary. Recently, Mozambique has encouraged investment in its energy, agro-processing, commerce and industrial sectors, which have all been the subjects of key exhibits at FACIM this year.
Expect FACIM to boost international investment in Mozambique, likely starting with the energy sector, and help the country’s economy recover from the pandemic while also promoting and encouraging future international development. In the long-term, expect China to be a key player in Mozambique’s economic future. China has rapidly increased its investment portfolio across Africa in the past decade and—though its foreign direct investment has subsided over the last year due to the pandemic—Mozambique’s burgeoning economic sectors will surely make it an attractive destination for future Chinese investment in the continent.
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