Salim Valá, chairman of the Mozambique Stock Exchange (BVM), warned of the negative impacts of social inequalities and lack of opportunities on the country’s economic development.
According to the newspaper O País, Valá emphasised that the high proportion of poor people, marginally involved in the development process, is holding back an effective fight against poverty.
‘Social inequalities are one of the biggest obstacles to progress and they are increasing daily,’ he said, adding that the concentration of opportunities and resources in the hands of a few prevents the full inclusion of the poorest, who consequently face greater difficulties in integrating into the economic circuit.
Salim Valá pointed to this scenario as limiting the use of the population’s productive potential and proposed the modernisation of the agricultural and fishing sectors as a fundamental solution. ‘The technical and managerial capacity of citizens already involved in the productive sector must be boosted so that they can produce more and better,’ he argued.
Valá also suggested that the mineral resources sector could also play a crucial role in development, but warned of the need to address poverty in the areas where resources such as rubies and gas are extracted. He proposed creating strategic policies and improving governance to ensure that the benefits of mineral exploitation are widely distributed.
With regard to small and medium-sized companies, the BVM president advocates tax reforms that adjust tax payments to the productive capacity of each company, as a way of stimulating growth in this sector.
Valá emphasised the need for comprehensive reforms to tackle inequalities and promote more inclusive and sustainable development.
