The Minister of Industry and Commerce, Silvino Moreno recently chaired the Mozambique-France Business Forum in Maputo. The objective of the forum was to intensify and diversify bilateral investments and trade, exploring the existing potential between the two countries. The event, organized by the French Embassy in Mozambique in partnership with the Confederation of Economic Associations of Mozambique (CTA) and the France-Mozambique Chamber of Commerce and Industry (CCIFM), brought together more than 260 businessmen from both countries, of which the French most come from the islands of the Indian Ocean, Réunion and Mayotte.
Speaking at the opening of the event, the Minister of Industry and Commerce said that the potential and competitive capacity that France offers in terms of capital, technology and experience, makes it a privileged partner of Mozambique. He also referred that Mozambique has French investors in the country’s industrialization, aiming to reduce dependence on the export of raw materials, to start selling more processed products with added value.
“The Government of Mozambique has defined agriculture, energy, infrastructure, mineral resources, industry and tourism and hotels as strategic sectors for national and foreign investment”. Underlined Silvino Moreno.
The leader also made it known that attracting investment through a competitive business environment is one of the priorities that the Government has chosen with a view to leveraging the private sector and the economy, with the recent approval of the Package of Economic Acceleration Measures, within the which has already allowed some strategic reforms such as the Investment Law adjusting it to the best global practices, the revision of the Labor Law, the Commercial Code, the revision of the Visa Law that introduced the e-visa, the approval of the Regulation of the Mere Declaration an instrument that allows more than 80 economic activities to be exempt from licensing.
For his part, the French ambassador to Mozambique, Yann Pradeau, pointed out that the two countries should capitalize on the momentum created by the colossal investment by the French multinational Total Energies, in the exploitation of natural gas in the Rovuma basin, to boost economic and bilateral business relations.
On the same occasion, the president of the Confederation of Economic Associations of Mozambique (CTA), Agostinho Vuma, argued that the Mozambican government should do more to create a more favorable atmosphere for foreign investment, namely by approving more attractive rules and streamlining the exchange rate regime for the capital inflows and outflows. He stressed that the adoption of said instruments will “reduce uncertainty” in relation to investments,