[2020-03-18] Extractive industry provides Mozambique with US$2.25 billion in tax revenues

Source: Macauhub

The Mozambican state has taken 150 billion meticais (US$2.25 billion) in tax revenues from the extractive industry over the last five years, daily newspaper O País reported, citing figures announced at the launch of the second phase of the programme of “Democratic Governance of Natural Resources in the Country.”

Mozambique is attractive to global companies focused on hydrocarbons and other minerals, and civil society, to ensure that the State would benefit from the exploration of these resources, between 2015 and 2019, through the Institute for Multiparty Democracy, launched the project entitled, “Strengthening the role of Parliament and the provincial assemblies in the supervision of the area of the extractive industry in Mozambique.”

“It was possible, at many times, to present a vision based on facts and figures, which was extremely informative for citizens. It was also possible to improve the connection between the members of the Assembly of the Republic and of the Provincial Assemblies with the communities,” said Hermenegildo Mulhovo, executive director of the Institute for Multiparty Democracy (IMD).

The project, which involves informing Members of Parliament that, through legislation, they defend the interests of citizens, will go into its second phase and is expected to cost just over €2 million funded by the Embassy of Finland in Mozambique.

“We have an outlook that in the coming times, based on investments made in this sector, the country could raise approximately US$2.1 billion,” said the executive director of the IMD, stressing that this situation requires good management on a national level and “we have seen that the democratic governance of these features depends on the strengthening of the role of Parliament and the provincial assemblies.”

Laura Tórvinen, Ambassador of Finland in Mozambique, restated on the occasion, the commitment to finance the project, believing that the exploration of mineral resources can improve the lives of Mozambicans.