Government of Mozambique declares Topuito Industrial Park an Industrial Free Zone

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Government of Mozambique declares Topuito Industrial Park an Industrial Free Zone

10:35 CAT | 16 Aug 2023

The Government of Mozambique, through the Council of Ministers, on Tuesday, 15th of August 2023, approved Topuito Industrial Park (TIP) in Larde, Nampula province as an Industrial Free Zone (IFZ) regime, thus acquiring the same status as the Beluluane Industrial Park regime, the largest in the country. The Industrial Free Zone creates an attractive business environment, comprising a number of benefits, such as exemption of customs duties on the import of construction materials, machinery, equipment, accessories, and spare parts; exemption from Value Added Tax (VAT) on transfers of goods and services; exemption from Corporate Income Tax (IRPC) in the first 10 years of fiscal years; reduction of the IRPC rate by 50%, from the 11th to the 15th fiscal year; and reduction of the IRPC rate by 25 during the entire life of the project.

Topuito Industrial Park is a local content initiative, designed to stimulate the local economy by attracting national and foreign investment and creating jobs for Mozambicans. MozParks has developed essential infrastructure for investors and liaise with partners and public authorities. As the operator of Topuito Industrial Park, MozParks will provide maintenance services, support tenant companies, facilitate local content bidding for Kenmare contracts, provide internship programs, SME training and certification, support agro-processing initiatives, offer shared support services including company registration, and community development.

The Park was established by MozParks in partnership with the local Government and Kenmare Moma Mining (Mauritius) Limited with the aim to stimulate economic growth and create jobs by attracting investors to Topuito and working with the local communities and businesses. Topuito Industrial Park will act as a driver for development within the province and, directly and indirectly, provide income to over 100,000 people. MozParks provides a well-organized and specialized ecosystem that fosters economic growth, collaboration, efficiency, and sustainability within the industrial sector. TIP will enable the transformation of raw materials, and boost the agroindustry, fish processing, catering, logistics, housing, green economy opportunities, construction, maintenance, and much more. Topuito Industrial Park will host Kenmare Moma Mining suppliers and service providers to invest and establish their business operations in the local communities by following the MozParks model of industrialization with social impact – ‘the Mozambican Way’ – this project will create jobs, support SMEs, develop communities and promote green economy initiatives.

About MozParks:

MozParks is an official developer and operator of Sustainable Economic Zones in Mozambique. It is a public-private partnership between the Mozambican government’s Agency for Investment and Export Promotion (APIEX) and African Sustainable Economic Zone Alliance (ASEZA) Swiss-Mozambican investors. MozParks has a mandate to develop multisectoral eco-industrial parks in every province of Mozambique and focuses on bringing high social impact alongside supporting industrialization. It focuses on job creation, investor support, business development and the green economy.