In September of 2015 we participated in 51st Edition of The Feira Internacional De Maputo (FACIM) in Maputo, Ricatla, Mozambique which is the most important industry and trade exhibition in Mozambique. The exhibitors presented food products, agricultural machinery and equipment, irrigation systems, safety engineering, construction and mining machinery as well as textiles and art crafts.
The acronym FACIM, means Feira Agro-Pecuaria, Comercial and Industrial de Moçambique. The main objective of FACIM is the promotion of the commercial activities, to stimulate the production and the consumption, and the economic integration of Mozambique in the world economy.
With peace and stability, Mozambique’s economy has dramatically improved over the last 25 years. Growing at around 7% each year, the country’s economy is one of Africa’s strongest performers. Foreign companies have increasingly chosen to invest here, particularly in mining ventures.
Mozambique has a wealth of natural resources, including deposits of iron ore, gold, bauxite, graphite, marble and limestone. There are also rare and important minerals such as tantalite and ilmenite (a source of titanium). And the Tete highlands have large reserves of coal, which is exported to places like India and China. But the most important natural resource for Mozambique is aluminum. Since the opening of a large smelter near Maputo in 2000 (the country’s largest foreign investment project to date), aluminum became the most valuable export. Low global prices for this commodity can seriously affect the economy.
Despite the growing economy, Mozambique remains one of the world’s poorest countries. This is partly because of its continuing trade imbalance, where more is spent on imports such as food, oil, machinery and manufactured goods, than the country earns from its exports. Half of Mozambique’s revenue therefore comes from foreign donors for the support of development projects. The country has also benefited from the significant reduction of foreign debts.
More investment is needed, particularly in agriculture, the most widespread economic activity. Subsistence and smallholder farming employs the majority of the country’s workforce, but yields are generally low. One focus of the government’s Poverty Reduction Action Plan is to improve lives by increasing productivity in agriculture and fishing.
The government hopes for continued growth in the economy of over 7%. Sectors of rising potential include electricity production from hydro-electric sources such as the Cahora Bassa Dam (see the Map of Mozambique) and tourism. With its long sandy beaches and rich marine life, the coastline of Mozambique is becoming an ever more popular tourist destination.And with its tax-friendly stance towards foreign investors, the government aims to attract more businesses to Mozambique. Manufacturing and processing sectors are particularly important.