Maputo, 9 Jul (AIM) – The World Bank has warned that the abundance of natural resources will not on its own guarantee Mozambique’s economic development, meaning that the country’s economic prospect must be diversified.
According to Filipe Sissoko, World Bank’s Country Manager for Mozambique, who was speaking on Wednesday, in Maputo, at the International Conference on Inclusive and Sustainable Development, revenues from mineral resources and natural gas should be channeled into productive investments, infrastructure, education, health, job creation, and institutional strengthening.
“Natural resources are an opportunity, not a guarantee. Gross Domestic Product [GDP] growth is important, but true development is measured by improved opportunities for people across the country,” he said.
Sissoko explained that the wealth generated will only yield benefits if transformed into assets capable of driving economic growth and improving the population’s living conditions.
“Economic growth must translate into tangible benefits for the population, creating more opportunities for farmers, workers, women, and youth. For the next 25 years, the World Bank identifies five priorities for Mozambique: agro-industrial transformation, human capital development, infrastructure expansion, economic diversification, and institutional strengthening”, he said.
According to Sissoko, the country must prioritize modernizing agriculture, expanding irrigation systems, increasing productivity, and improving producers’ access to markets, thereby helping to strengthen food security and create jobs.
He also added that Mozambique’s greatest asset is its people, advocating for increased investment in education, health, nutrition, and vocational training to prepare young people to meet the demands of modern agriculture, industry, tourism, and the digital economy.
“The question is not whether Mozambique can grow. The country has already shown that it can. The challenge lies in transforming that growth into jobs, increased household income, and shared prosperity”, he said.
For his part, the European Union Ambassador to Mozambique, Antonino Maggiore, argued that the country’s future will depend on decisions made today, as well as on strong institutions, the continuity of public policies, and the participation of all sectors of society.
“Strategy alone does not change a country. It is institutions that implement it and people who bring it to life. The European Union is committed to continue supporting Mozambique through a partnership based on political dialogue, shared responsibility, and the promotion of inclusive and sustainable development”, he said.
The International Conference on Inclusive and Sustainable Development in Mozambique brings together representatives from the government, cooperation partners, the private sector, civil society, and academia to discuss the country’s strategic vision for the next 25 years.
(AIM)
SNN/Am/
