africa development Economy industry and commerce Legislation Mozambique

Mozambique approves decree simplifying business regulations

The Mozambican government has endorsed a decree approving simplified regulations for carry out economic activities in the country, aimed at attracting more investment and improving the business environment, APA reported on Tuesday.

Cabinet spokesperson Ana Comoana told a media briefing in the capital, Maputo, late on Tuesday that attracting more investments and improvement of the business environment could materialize, through the simplification of procedures and reduction of the deadlines and the costs of licenses for the national and international businesspeople.

The official said the decree intends to establish the simplify the licensing regime and certification of mere prior communication of economic activities which by their nature do not have negative impacts on the environment, public health, safety and the economy, in general.

“The instrument also aims to stimulate the insertion of the informal sector in the formal sector”, said Comoana who also serves as deputy minister of Culture and Tourism.

According to analysts, red tape and slow approvals in the southern African nation make it hard for foreign and local firms to do business in the resource-rich south-eastern former Portuguese colony.

Source: Journal du Cameroun

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