Africa-Press – Angola. The President of Mozambique, Filipe Nyusi, said that the announced economic stimulus package will favor Portuguese businessmen who want to invest in the country.
At the end of a bilateral meeting with the Portuguese President, Marcelo Rebelo de Sousa, in Luanda, where they participated in the funeral ceremonies of former Angolan President José Eduardo dos Santos, Filipe Nyusi said he hoped that Parliament would soon approve the diploma already announced.
As reported by Lusa, next week’s summit between Portugal and Mozambique “coincides with the International Fair of Mozambique (Facim) and we have just released the package of stimulus measures to relaunch the economy” that will benefit investors, explained the Head of Mozambican state.
“We have Portuguese companies that are in Mozambique and that need this care, in visas, in fees, in many useful things” that the package already includes, he explained.
And he gave the example of visa facilitation that can “help tourism” and business travel.
“We are at a stage where we have to see who enters”, but “Portugal is not for us a country with immigration risk”, he said.
In August, Filipe Nyusi announced 20 measures of the PAE – Economic Acceleration Stimulus Package designed to respond to the country’s growth needs, the negative impact of the Russia-Ukraine war, armed violence in Cabo Delgado province, northern Mozambique, and natural calamities.
Tax Write-Off
The measures lower taxes from 32 percent to 10 percent on agriculture, aquaculture and public transport, and VAT from 17 percent to 16 percent on agriculture and renewable energy.
The Mozambican Head of State also pointed to the introduction of tax incentives for new investments, over the next three years, but did not mention the rates of these incentives.
In the package, the share of revenues from natural resources transferred to the provinces where they are extracted is increased from 2.5 percent to 10 and a loan guarantee fund worth 250 million dollars (250 million euros) is created. , for banks to make credit available to the economy at more attractive interest rates.
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