Tourism investment boost for Mozambique
06 May 2008Mozambique's tourism industry is set to benefit from four new major attractions over the coming years as a result of a new investment programme.
The International Finance Corporation (IFC), which is part of the World Bank Group, and the government of Mozambique announced an initiative designed to help the African country's tourism sector, which is already in a period of growth.
Some $1 billion (£506 million) of investment is set to result from the plan, enabling the transformation of four sites in Mozambique.
There will be two large resorts developed on the country's Indian Ocean coast and two smaller eco-tourism sites.
Babatunde Onitiri, IFC's country manager for Mozambique, said that developers are being sought that have a track record for working with emerging industries and offer sustainable operating policies.
Fernando Sumbana Jr, Mozambique's minister of tourism, commented: "This project is a great opportunity for large-scale tourism investments in one of Africa's most beautiful and unique destinations.
"Mozambique's resource base for tourism is exceptionally strong, and now is the time to transform this potential into opportunities by securing quality investments."
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