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Italy will be involved, for the first time, in supporting the Mozambique Confederation of Economic Associations (CTA), with a financing package worth five million Euros in its initial phase.
This is one result of a 25-strong business mission representing oil and gas, energy and mineral resources, construction, logistics and services, tourism and agro-industry which visited Italy in July.
Álvaro Massingue, deputy chairman of the CTA, said the mission was arranged to stimulate the creation of business partnership between the two countries, advertise business opportunities in Mozambique, and access Italian ‘know-how’. This was accomplished through work groups from the oil and gas, energy and mineral resources, construction, logistics and services sectors. The mission was also aimed at the mobilisation of financing sources for the private sector and presentation of the Legal Framework of Investments in Mozambique.
Speaking yesterday at a press conference in Maputo covering the mission’s recent visit, Massingue said : “Funding windows for projects by Mozambican companies that are associated with Italian companies were announced. We have interacted with many development finance institutions, in particular SIMEST ( Società Italiana per le Imprese all’Estero, a financial institution for the development and promotion of Italian enterprises abroad and a major development promoter providing affordable financing lines), the Italian Institute for Foreign Trade (ICE), and the African Development Bank.”
Massingue said that the CTA had entered into an agribusiness agreement with its Italian counterpart covering training in the production, processing and conservation of fresh produce in Italy.
The CTA took the opportunity to congratulate the government on hearing the pleas of the private sector and correcting a situation that was creating serious problems for the economy, particularly the productive sector.
“The mandatory use of the Nacala Special Export Terminal was a major non-tariff obstacle to the development of business activity, affecting the competitiveness of Mozambique’s exports,” Massingue said. The cancellation of its mandatory use would significantly reduce the time and cost of exporting and positively impact Mozambique’s Doing Business ranking.
On setting the new cost of border visas, Massingue said that the US$50 tariff harmonised well with the region and was a great step forward. The private sector would now argue for the implementation of an ‘investment visa’.Source: Notícias