The Mozambican Council of Ministers is due soon to consider a proposal for a Local Content Law, a document that is being refined and has already been analysed by the Economic Council, said the national director for Economic and Financial Studies of the Ministry of Economy and Finance.

Vasco Nhabinde, speaking in Maputo at the Conference on Local Content in the Oil and Gas Sector, said that the bill to be presented to parliament is intended to stimulate domestic production and generate jobs and income .

“The future law also aims to increase the participation of the national industry of goods and services, creating a competitive basis for it,” Nhabinde said.

Cited by Mozambican daily newspaper Notícias the national director of Economic and Financial Studies of the Ministry of Economy and Finance said the law will help the development of the country, given that it will force the incorporation of national production factors.

Speaking on the first day of the conference, the Deputy Minister of Mineral Resources and Energy, Augusto Sousa Fernando, said the proposed National Content Law will complement the current Oil Law, which already protects local industry .

He added that the bill also aims to bring together the opportunities that result from capital intensive investments in industrial development. (macauhub)