CTA calls for structural reforms

Maputo, 13 Nov (AIM) – The chairperson of the Confederation of Mozambican Business Associations (CTA), Álvaro Massingue, has called for urgent implementation of structural reforms to relaunch the national economy, make the country more competitive, and transform its vast resources into financial resources.

According to Massingue, who was speaking at the opening of the 20th Annual Private Sector Conference (CASP), a two-day event currently underway in Maputo, despite being a country endowed with enormous natural resources, Mozambique continues to face the paradox of possessing great potential but low economic results.

“We call for the adoption of a simpler, fairer, and more competitive model. There is a need to boost administrative and digital modernization of the State, as a way to reduce costs, and reduce red tape, corruption, and inefficiencies”, he said.

Massingue also stressed the urgency of restoring confidence in the rule of law, accelerating court decisions and ensuring predictability.

“There is an urgent need to resolve delays in payments to suppliers and VAT refunds, a situation that continues to stifle businesses”, he added. He regarded the scarcity of foreign currency as an emergency today, and called for priority in the allocation of foreign currency to be given to productive and exporting companies.

He also mentioned the role of small and medium-sized enterprises (SMEs) as engines of employment and innovation, and argued that the Sovereign Wealth Fund should fund structuring projects and gas-based industrialization, guaranteeing lasting prosperity.

Over 2,000 participants are taking part in the event, including government members, business leaders, cooperation partners, academics, and foreign delegations.
(AIM)
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