Special economic area of Nacala in Mozambique has 40 officially certified projects

15 November 2011

Maputo, Mozambique, 15 Nov – The Office for Economic Areas with Accelerated Development (Gazeda) has certified at least 40 projects for the Nacala Special Economic Area (ZEE), the Gazeda delegate for the area said.

Branquinho Nhombe, the ZEE delegate for Nacala told Mozambican newspaper Notícias that half of the 40 certified projects, involving an investment of US$275 million, were put forward by foreign businesspeople.

According to official figures, Tanzania is the country that has invested most in the Nacala ZEE, in Nampula province, followed by Portugal, South Africa and India.

Gazeda is a public body established in December 2007, whose mission it is to promote and coordinate activities to create, develop and manage Special Economic Areas (ZEE) and Industrial Duty Free Areas (ZFI) in Mozambique.

The government decided to provide tax and other incentives to the ZEEs and ZFIs, namely exemption on payment of customs tariffs on the import of construction materials, equipment, accessories, parts and other items required to carry out the activity for which they are licensed, as well as Value Added Tax exemption on domestic and imported goods.

The non-tax incentive package includes provision of land and analysis of the environmental impact of the projects, simplified procedures for repatriation of profits, more flexible labour laws, particularly in terms of foreign workers and a number of other measures. (macauhub)

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