Exports of minerals and gas reinforcing Mozambique’s foreign exchange reserves

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Exports of minerals and gas reinforcing Mozambique’s foreign exchange reserves

1:59 CAT | 26 Apr 2023

Photo: Twitter / @filipe_nyusi

President of the Republic Filipe Nyusi said today that the mining, energy, oil and gas sectors have enormous potential in the country’s productive structure, with positive effects on the economy and an increase in exports contributing to the balance of trade as well as strengthening foreign exchange reserves.

According to the Head of State, the sector further benefits various industrial activities, facilitating the capture of added value, job creation, connections between companies and diversification of exports.

President Nyusi was speaking in Maputo this morning (26-04) at the opening of the 9th edition of Mozambique International Mining & Energy Conference and Exhibition, MMEC 2023, which takes place today and tomorrow under the motto “Utilising Mozambique’s Natural Resources for Transformational and Sustainable Economic Development”.

“Capturing tax revenues and improving public accounts enables our State to build social infrastructure for the well-being of Mozambicans,” said the President. “Power generation is a factor in improving living conditions through increased access and expansion of the network throughout the country,” Nyusi highlighted.

The President further noted that, in the context of the geopolitics of decarbonisation, Mozambique is currently a player in the gas and mineral resources value chains.

Procedi hoje, dia 26 de Abril de 2023, pelas 09:00 horas, em Maputo, à Abertura da 9ª Conferência e Exposição de Mineração e Energia de Moçambique (MMEC-2023). pic.twitter.com/ZkxFxYnBU2

— Presidente Filipe Nyusi (@filipe_nyusi) April 26, 2023