Millennium bim opens two more branches Maputo
File photo / The Mozambique Commercial Code was last revised ten years ago
The Mozambican government has approved a revision of the Commercial Code, the instrument which regulates the business environment and contributes to an atmosphere conducive to economic development.
Speaking in Maputo yesterday during a briefing at the end of the 25th regular session of the Council of Ministers, Government spokeswoman Ana Comoana said that in addition to attracting private domestic and foreign investment, the government intended the revision to promote greater competitiveness in the country.
Comoana, who is also deputy minister of Culture and Tourism, said the promotion of competitiveness would re-position the country in regional and global rankings, make procedures and requirements less bureaucratic, and avoid unnecessary litigation.
The revision also aims to encourage the informal trade sector to enter the formal sphere through greater flexibility, the simplification of procedures and the removal of administrative barriers.
Mozambican Commercial Code was created in 1888 and is periodically updated, the last time ten years ago.
The document approved yesterday should be submitted to the Assembly of the Republic, the country’s parliament, for its appreciation and deliberation.Source: AIM Moçambique