Mozambique: SME’s should take advantage of gas exploration – president

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Mozambique: SME’s should take advantage of gas exploration – president

8:40 CAT | 11 Aug 2018

Photo: Notícias

Mozambique’s president on Friday called for the country’s small and medium-sized companies to be more competitive and take advantage of gas exploration in the Rovuma basin, saying the government would not adopt protectionist policies.

“Better use of local opportunities should not be made through protectionist policies that don’t enable and prepare national policies,” president Filipe Nyusi said at a seminar on local opportunities for the exploration of natural gas, in the northern Mozambican city of Pemba.

“We believe such an attitude does not favour the emergence of a healthy industry,” he said.

Nyusi also said small and medium-sized Mozambican companies should focus on reinforcing technical and professional qualifications.

“We believe that only by investing in offering fair opportunities can we, in the medium and long term, attract a significant participation from local industry with an ability comparable to providers of goods and services from other countries,” he said.

The Mozambican people must “unite” so that the country can take advantage of the benefits of gas exploration and avoid the “curse of natural resources,” he added.

Nyusi also pointed out that Mozambique will experience an “economic boom,” with more than US$30 billion (€26 billion) invested in the country’s natural gas sector by US oil company Anadarko, which is expected to make a final investment decision in the first half of 2019.

Source: Lusa