EUR 20 million Conservation Tourism investment

The Mozambican Council of Ministers has authorised a joint South African-American tourist investment estimated to be worth EUR 20 million.“The resolution provisionally authorises Nuanetsi’s request for the acquisition of Land Use Title (DUAT) covering an area of 17,900 hectares,” Deputy Minister of Culture and Tourism Ana Comoana announced yesterday.The area in Mapulanguene, Magude district, Maputo province, will become a Conservation Tourism project, and the initiative includes the construction of a lodge and ten tourist villages as well as social infrastructure including access roads and a school.Minister Comoana said the project would create employment for around 110 Mozambicans.

 Yesterday’s cabinet meeting also approved the Transfer Pricing Regime to be applied in commercial transactions “involving related entities” or occurring “between sectors or parts of the same entity”.The adoption of this scheme aims to “establish parity in the tax treatment between companies integrated in groups and independent companies”, as well as neutralising “tax evasion practices” and ensuring “the proper protection of the internal tax base, to safeguard tax revenues”.The Council of Ministers also approved the National Broadband Strategy, aimed at “encouraging the development of infrastructure” and rolling out “information and communication technologies at the national level through the implementation of access networks, regardless of support technologies”.