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Global Gateway: “EU-Mozambique Cooperation Should Prioritize Job Creation and Improve SME Competitiveness”, António Souto

Global Gateway: “EU-Mozambique Cooperation Should Prioritize Job Creation and Improve SME Competitiveness”, António Souto

The president of the Mozambican Association of Microfinance Operators (AMOMIF), António Souto, said recently in Maputo that cooperation between the European Union (EU) and Mozambique should prioritize the creation of more jobs and improve the competitiveness of existing Small and Medium Enterprises (SMEs), with a view to promoting social and economic development.

“As long as poverty and social inequalities continue to increase, our economy is made up of 98% informal units and we are unable to create at least 5% of the formal jobs needed, I guarantee that there will be no social tranquillity, nor a political and economic environment for large companies to be efficient and sustainable,” he explained, speaking during the first edition of the Mozambique-EU Global Gateway Investment Forum.

According to the source, it is important that partnerships focus on promoting youth and empowering women, developing and using communication technologies and promoting small and medium-sized manufacturing industries.

“We must implement instruments geared towards good governance and which convey values that ensure transparency, efficiency and impact in the management of resources. The most successful countries in the SME sector and in social, economic and financial inclusion have in common the attention and support they give to their development finance institutions and communities,” he stressed.

In his speech, António Souto revealed that “some resources made available by the international community, including the EU, are being wasted or misused. Other resources are channeled through parastatal institutions whose inefficiency and poor transparency in accountability is well known. We cannot therefore say that there is already too much support for SMEs.”

With the theme “Creating Business Opportunities”, the Global Gateway Forum took place on the 22nd and 23rd of November with 14 discussion panels, in a joint organization of the Government of Mozambique, the EU Delegation and the Association of European Chambers of Commerce (EUROCAM ), and brought together various stakeholders from the national and European public and private sectors, with the aim of exploring strategies to attract quality investments, within the scope of the European Union’s Global Gateway Strategy, and boost trade between Mozambique and the European market.

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