UPDATE 2-Guebuza re-elected in Mozambique election

* Guebuza sweeps election

* His ruling Frelimo can change constitution

* Growing economic potential

(Adds analyst comment)

By Charles Mangwiro

MAPUTO, Nov 11 (Reuters) - Mozambican President Armando Guebuza won a resounding general election victory, officials said on Wednesday, with his Frelimo party capturing enough parliamentary seats to change the constitution at will.

Frelimo, in power since it led the country to independence from Portugal in 1975, won 191 parliamentary seats out of 250.

Guebuza, seen as welcoming of greater foreign investment, beat his rivals, long-time opposition leader Afonso Dhlakama, and the head of a new party, Daviz Simango, capturing 75.46 percent of the presidential vote.

"Armando Guebuza has been re-elected president of the republic for the next five years," said Joao da Costa, chairman of Mozambique's National Elections Commission (CNE).