Wednesday, February 21, 2024

Republic of Mozambique
Ministry of Economy and Finance

Republic of Mozambique
Ministry of Economy and Finance

19

CREATION AND IMPLEMENTATION OF THE SOVEREIGN WEALTH FUND OF MOZAMBIQUE

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CREATION AND IMPLEMENTATION OF THE SOVEREIGN WEALTH FUND OF MOZAMBIQUE

This measure is focused on the creation and implementation of the Sovereign Wealth Fund of Mozambique, which will have a robust regulatory framework to ensure that oil and gas revenues are used transparently while protecting the economy against the effects of volatility and external shocks, contributing to the promotion of socio-economic development and generating benefits both for current and future generations.

The Fund must be operational before the beginning of the revenue stream that will come from the liquefied natural gas production projects located in the Rovuma Basin.

As part of the implementation of these measures, the Government will also deepen and accelerate the reform of the State’s business sector, to improve its performance and to prepare the privatization of non-strategic companies, reducing their fiscal risk, the pressure on public accounts and to eliminate at the same time economic distortions and unfair competition that some of these companies creates to selected competitive markets.

CREATION AND IMPLEMENTATION OF THE SOVEREIGN WEALTH FUND OF MOZAMBIQUE

This measure is focused on the creation and implementation of the Sovereign Wealth Fund of Mozambique, which will have a robust regulatory framework to ensure that oil and gas revenues are used transparently while protecting the economy against the effects of volatility and external shocks, contributing to the promotion of socio-economic development and generating benefits both for current and future generations.

The Fund must be operational before the beginning of the revenue stream that will come from the liquefied natural gas production projects located in the Rovuma Basin.

As part of the implementation of these measures, the Government will also deepen and accelerate the reform of the State’s business sector, to improve its performance and to prepare the privatization of non-strategic companies, reducing their fiscal risk, the pressure on public accounts and to eliminate at the same time economic distortions and unfair competition that some of these companies creates to selected competitive markets.