Maputo, Mozambique, 10 Dec – A project to support competitiveness and development of the private sector in Mozambique, especially for small and medium-sized companies, funded by the World Bank and by Ireland, was officially launched in Maputo Wednesday.
Funding of the Business Competitiveness Support Project, of US$25 million from the World Bank and US$1.62 million from Ireland, was announced last April, on signing an official document about this aid, which aims to improve the business climate and increase the country’s competitiveness.
The funding is for company training and consulting activities and will be channelled by a unit created for that purpose at the Ministry for Industry and Trade.
“The project contributes to reducing poverty by using the private sector as a great job generator,” said Luiz Tavares, representative of the World Bank in Mozambique, explaining that small and medium-sized companies would benefit from the initiative as well as the tourism sector in Inhambane province (south), and it would also create a Training Centre in Nampula (north).
The Mozambican government has approved a Strategy for the Industrial Sector, a Strategy for Development of Small and Medium-sized companies and launched the “Made in Mozambique” programme to boost production, consumption and export of national products as well as stimulating the local business sector. (macauhub)