Peace and stability fundamental, declares Nyusi – AIM report

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Peace and stability fundamental, declares Nyusi – AIM report

11:44 CAT | 22 Jan 2020

Photo: Presidencia da Republica de Moçambique

Mozambican President Filipe Nyusi reiterated on London on Monday that peace and stability are fundamental requirements for attracting more investment to Mozambique.

Cited by Radio Mozambique, Nyusi was speaking at a panel on “Opportunities for Growth in Africa”, as part of the United Kingdom-Africa Investment Summit hosted by the British government.

Nyusi spoke of the strategies adopted by the Mozambican government to attract further investment, including reducing red tape, corruption and financial risk. But he admitted that first and foremost “stability is fundamental. The country must be stable from the security point of view, because investments can only take place when the country is secure, where people feel at ease”.

The President also stressed the importance of improving the business environment. “We have a platform here where we are open with the private sector”, he said. “We have regular meetings where we speak and discuss problems, not only with Mozambicans, but also with foreign businesses”.

He explained that the government is working to simplify economic procedures, and to cut bureaucracy down to the minimum necessary.

Nyusi added that the government is fighting against corruption, and makes tax incentives available for investors.

“In 2016, inflation was +36% but work has been done to reduce this to +/- 3.2%… “ Pres Nyusi, Moçambique pic.twitter.com/o021Q4k9AW

— Nat (@malaikadiva) January 20, 2020

At the opening of the summit, British Prime Minister Boris Johnson said that the UK intends to be the largest investor in Africa among the G7 group of most industrialised nations by 2022.

“We are the partner of today, of tomorrow and of the coming decades”, he boasted. “We have technologies of all types. We have by far the largest technology sector in the world, two or three times larger than our rivals”.

This optimistic approach ignores the impending withdrawal of the UK from the European Union, which most economists believe will inflict serious damage on the British economy.

Source: AIM