“Money laundering prevention measures raise confidence in the country” – Salim Valá

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“Money laundering prevention measures raise confidence in the country” – Salim Valá

1:19 CAT | 10 Mar 2022

File photo: Noticias

Measures to strengthen the framework for preventing and combating money laundering and terrorist financing are helping to increase international partners’ confidence in Mozambique.

Some of these partners have already expressed their willingness to finance economic recovery, support initiatives to fight poverty and promote sustainable and equitable economic growth

Such is the outline of the thesis recently defended by CEO of the Mozambique Stock Exchange (BVM), Salim Valá, in a lecture at the Technical University of Mozambique (UDM) in Maputo on the theme, “Challenges and Prospects of Economic Development in a Context of Multiple Adversities”.

According to Valá, “the country has made progress and the forecast of the economic situation for 2022 is more optimistic, both in terms of fiscal and monetary policy of preserving macroeconomic stability, and of the level of inflation”.

According to an article in ‘Jornal Notícias’, Valá also mentioned that, “among the various challenges that the economy still faces are the need to make credit easier; the fight against corruption; ensuring macroeconomic stability; reducing the time required for opening new companies; access to energy, which is not yet universal; property registration; and the strength of contracts, all of which remain private sector concerns.”

“Equally worrying are the low level of human capital, the reduced productivity of the workforce, and low incentives for local content (limited entrepreneurial connection of SMEs in the value chains of megaprojects),” Valá observed.

Vala also commented on the need to improve existing infrastructure, increase research and its application to the productive sector, and encourage labour-intensive projects.

Source: Diário Econômico