By Jorge Joaquim
President Nyusi admitted that Mozambique’s economy should have grown faster given the natural resources at its disposal, calling for a focus on industrialisation to diversify the country’s productive base.
Nyusi told Mozambican businessmen that the country has to take advantage of its agricultural, energy and water potential, as well as the logistics platform provided by its ports and road corridors.
One of the reasons why Mozambique is not properly fitting the revenues from the exploitation of natural resources has to do with tax benefits it has granted to mega-projects, according to think tank CIP, which says that between 2016 and 2022 the government missed collecting about MZN150.6bn.
CIP maintains that the figures show that multinationals operating in Mozambique, mostly in the extractive sector, have a weak fiscal contribution to public spending.
As a result, they also have a limited influence on the country’s development process, the NGO believes.
