The Agency for the Promotion of Investment and Exports (APIEX), an entity attached to the Ministry of Industry and Trade (MIC), held its first Consultative Council on Wednesday 27 November in Maputo on the subject of ‘Promoting Investment and Exports to Boost the Country’s Economic Growth’.
At the event, it was revealed that between 2020 and the third quarter of 2024, the institution approved more than a thousand projects valued at 8.7 billion dollars, responsible for the creation of more than 7500 jobs, most of which employed Mozambican citizens.
In his opening speech, the Minister of Industry and Trade, Silvino Moreno, said that the preliminary balance of the activities carried out by APIEX is positive and encouraging, despite the fact that many challenges have been faced, particularly the deterioration of the international investment scenario and the difficulties in developing infrastructure.
‘Mozambique faces the challenge in terms of infrastructure to meet domestic and regional demand for energy, connectivity, transport and logistics services, which are necessary to unlock its enormous growth potential based on the sustainable exploitation of its diversified natural resource base,’ he emphasised.
He emphasised the need for the country to reduce its dependence on the liquefied natural gas (LNG) sector, arguing that it is not the main driver of growth in Gross Domestic Product (GDP). ‘The Executive has been promoting the strategic sectors defined in its Five-Year Programme (2020-24) to stimulate the diversification of our economy,’ he stressed.
Moreno reaffirmed the government’s commitment to implementing concrete actions to improve the business environment, strengthen special economic zones and diversify exports. ‘We hope that there will be presentations, discussions and deliberations with notable impacts on promoting, mobilising and retaining more investment in the country and on promoting and diversifying national exports, among other gains with a structuring impact on our economy,’ he urged.
In his speech, the minister also said that APIEX plays a strategic role in promoting the national economy, which contributes to attracting more significant investments.
‘The holding of this Consultative Council constitutes the consolidation and operationalisation of APIEX, with a view to enabling it to fulfil its institutional mandate in boosting the country’s socio-economic development, through the promotion, attraction and retention of national and foreign direct investment,’ he concluded.
