The Sérvulo/MRA Advogados consortium was the international consultant selected by the Government of Mozambique to provide advisory services on the legal review of the current Investment Law.
The consortium formed by Sérvulo and MRA Advogados was the international consultant selected by the Government of Mozambique, in an international tender, to provide consultancy services for the legal revision of the current Investment Law, a project funded by the World Bank. The new Investment Law was approved by the Mozambican parliament in May 2023 to increase the country’s attractiveness for private, national and foreign investment.
Sérvulo and MRA Advogados worked on the legal review of this new law. “The aim of this consultancy was to support the technical team of the Government of Mozambique, led by the Agency for the Promotion of Investment and Exports, IP, in the overall review of Law 3/93 of 24 June, and other complementary and correlated legislation, making it a more modern law, better able to respond to the current challenges of the global market and aligning it with international best practices and the highest standards imposed by the dynamics of the regional, continental and world economy,” the statement said.
“It was an honour for us to participate in such an important project, which represents a historic milestone in the transformation and consolidation of Mozambique’s position as a country of great strategic interest and high attractiveness and capacity to retain private investment, both domestic and foreign,” said partners Tiago Mascarenhas of MRA Advogados and Francisca Mendes da Costa of Sérvulo.
This consortium has advised the Mozambican government on the various revisions of this law, the latest being in March 2022. “The consortium also successfully concluded, in October 2022, a round of three public hearings of the Draft Investment Law in Nampula, Beira and Maputo, which were accompanied by partners Tiago Mascarenhas (MRA Advogados), Francisca Mendes da Costa, Mark Kirkby (Sérvulo & Associados) and also by Consultant André Zibaia (Franco Zibaia),” they explained.