With the recent approval of Parliament, a legislative advance has been made to strengthen Micro, Small and Medium-sized Enterprises (MSMEs) in Mozambique. This step is seen as fundamental to boosting the country’s industrial and commercial sector, since MSMEs make a contribution to the national economy, comprising around 97.1% of operating companies.
The Minister of Industry and Commerce, Silvino Moreno, emphasized the importance of this legislation by stating that its main objective is to create conditions that enhance the role of MSMEs in the economy, while also encouraging the formalization of economic agents who operate informally. This is expected to increase job creation, wealth production, tax collection and the country’s economic sustainability.
Among the key points of the new law are certification, the right of first refusal, easier access to information on financial services and the creation of a fund to support the promotion and development of MSMEs. Also noteworthy is the allocation of 1% of the budget of companies involved in major projects to support MSMEs, the reduction of fees for obtaining the ‘Made in Mozambique’ label and the creation of facilities for organizing trade fairs.
It is important to note that this legal provision was shaped based on input from consultations held throughout the country, ensuring the involvement of the main beneficiaries in the legislative process. This approval represents a significant step forward.
