Local Content: Proposed law goes to the Council of Ministers

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Local Content: Proposed law goes to the Council of Ministers

12:13 CAT | 24 Jul 2017

A proposed National Content Law is to be submitted to the Council of Ministers for consideration and approval soon. The document, now being developed, has already been reviewed by the Economic Council, which produced some of the recommendations.

Speaking in Maputo during a meeting of the Conference on Local Content in the Oil and Gas Sector, which ended on Friday, Vasco Nhabinde said the aim was to stimulate domestic production and generate employment and income.

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Other advantages would be human resource training and a beneficial environment for the growth of national business through the development of technological research.

“This law is needed not only from the point of view of gains, but also from the point of view of the mandatory incorporation of national factors of production. In this case, our proposal ensures that economic agents observe the incorporation of resources or factors of national production,” Nhambinde said.

He emphasized that the idea was to ensure that there is an effective technology transfer “because without technology transfer, local content will be worthless”.

Speaking on the first day of the Maputo conference, Deputy Minister of Mineral Resources and Energy Augusto Sousa Fernando said that the proposed National Content Law would complement the Petroleum Law currently in force, and which provides for the protection of local industry.

He added that the bill aimed to couple the opportunities resulting from capital intensive investments with industrial development, and was an unmistakable sign of the government’s determination to maximize the multiplier effect of investments in the national economy.

Source: Notícias