Maputo, Mozambique, 16 Dec – The future power transmission line from Tete to Maputo and expansion of retail banking will be fundamental to improve the business climate in Mozambique and for the development of a strong business sector, said the country’s Minister for Industry and Trade.
According to Mozambican newspaper Notícias, Minister Armando Inroga said that a structure to reduce the costs of developing energy and communications infrastructure was being set up.
Mozambique lost ground this year in the two indices that measure countries’ performance, the Doing Business index and the Global Competitiveness, and the minister was reacting to calls from its aid partners for the government to speed up introduction of reforms to improve the business climate.
Difficulties securing funding and access to credit and costs of installing power supplies for companies are some of the main issues that stopped Mozambique from progressing, particularly in the Doing Business index, which is a reflection of the World Bank’s assessment of the business climate in a variety of countries.
During a debate promoted by cooperation partners about the business climate in Mozambique, the minister noted the need for retail banks to expand their businesses to rural areas and added that he believed that, “all those initiatives will, in fact, create conditions to do business in Mozambique.” (macauhub)