The review of industrial strategy and policy aims to endow Mozambique with an industrial promotion mechanism, Trade and Industry Minister Armando Inroga recently stated.
The absence of that industrial promotion mechanism has implied difficult access and high financing costs as well as a lack of definition of priority value chains and products, he added.
“Revision of the industrial strategy and policy is a priority, as it involves the adoption of coordinating measures at government level to guarantee job creation, a stronger value chain and the promotion of an economy that ensures import replacement,” Inroga said, cited by the Maputo-based daily Notícias.
In 2012 industry was the third-ranked sector in Mozambique after agriculture and transportation, accounting for 11 percent of GDP and employing nearly 6 percent of the active workforce.
The head of the industry and trade portfolio of Mozambique’s Federation of Economic Associations (CTA), Mubarak Abdul Razak, said that the discovery and start of mineral resources exploitation implied major challenges for various sectors, which will have to expand their production bases to deal with an eventual rise in demand for goods and services, including manufactured products.
Revision of the industrial strategy and policy will include identification of the fundamental pillars on which government and private sector action should be based during the respective implementation. (macauhub/MZ)