Mozambique’s Minister of Economy and Finance, Max Tonela, laid out an enticing vision for European investment at this week’s high-profile Mozambique-EU Investment Forum.
Addressing a rapt audience of business leaders and EU dignitaries, Minister Tonela described vast untapped potential across multiple sectors and reiterated the government’s commitment to deep reforms aimed at accelerating growth.
“This meeting offers a unique opportunity to strengthen economic ties, which have seen positive growth but must be expanded further,” he stated.
Citing the EU trade agreement granting duty-free access for Mozambican goods, Tonela depicted the country as a gateway to massive regional markets thanks to its membership in SADC and the new African Continental Free Trade Area.
Mozambique’s Minister of Economy and Finance, Max TonelaAlso read: Mozambique’s MPDC inaugurates park to enhance flows along bustling African route
With the recent commencement of the game-changing Coral Sul LNG project operated by an Italian major ENI, the Minister singled out natural gas as both a huge opportunity and a means to support the global energy transition. He invited greater involvement of European SMEs to add value to the gas discoveries and jointly establish Mozambique as a stable supplier of cleaner energy. Renewables collaboration was another area highlighted.
Tonela urged investors to look beyond extractives to manufacturing, agriculture, infrastructure and other sectors essential for lasting economic development.
To increase competitiveness, the government has enacted reforms improving the investment climate – covering taxation, forex rules, visas, licensing and labor regulations. The Minister reaffirmed Mozambique’s commitment to deepening such reforms in coordination with partners like the IMF to reinforce governance, stimulate private sector-led growth and build a more resilient, inclusive economy.
