MOZAMBICAN GOVT MERGES THREE TRADE, INVESTMENT PROMOTION BODIES INTO ONE

The Mozambican government has announced the abolition of the Investment Promotion Centre (CPI), the Export Promotion Institute (IPEX), and the Office for Accelerated Economic Zones (GAZEDA) and says the functions of these three bodies are being merged into a new body, the Investment and Trade Agency (AIC).

Government Spokesman and Deputy Health Minister Mouzinho Saide told the media after the weekly meeting of the Council of Ministers (Cabinet) here Tuesday that the merger was aimed at bringing together, in an integrated manner and in a single body, all activities to promote private and public investment and exports.

The merger, he said, “intends to ensure greater alignment with the government’s objectives and targets in matters of development and the promotion of investment and exports”.

It would also strengthen relations with investors and foreign trade operators, and create a single focal point for communications. The new agency will also take on responsibility for setting up and managing special economic zones and industrial free zones.

It is also a cost-cutting exercise, with excess staff from the three agencies not absorbed by the new agency to be employed elsewhere in the State apparatus.

Source: NAM NEWS NETWORK.