With a total of US$3 billion in
investments and around 40 associated companies, Beluluane Industrial
Park has been a shining example of how industrial free zones can benefit
SMEs and the economy generally. At a time when discussions on how to
revitalise Mozambique’s manufacturing industry are
accelerating, Semanário Económico has been looking at successful
examples, including Beluluane Industrial Park. A public-private initiative between
the Mozambican state represented by APIEX, with 40% of the shares, and
the private sector represented by Chiefton, with 60% of the shares and
comprising Mozambican and Swiss investors, Beluluane Industrial Park,
created in the 2000s, housing light industries such as clothing,
manufacturing, including automobile and general engineering, and
aluminium processing industries.
Beluluane Industrial Park has recorded investments of around US$3
billion, and over 40 companies participating, generating more than 5,000
jobs.
“In the last five years, we have had
about 14 new investors, of whom about 10 have already established
themselves and are operating, with the remaining five in the project
approval phase,” general manager Onório Manuel reports. Manuel explains that most of the
companies in the park are linked to the metal processing industry. “Some
provide services to Mozal; some of them are owned by Mozambicans and
others by South Africans. Another sector is construction material,” he
says. “But we’ve also got a company that manufactures artificial hair,
and another that recycles metals.” The government’s commitment to the
industrial zone was demonstrated by it making the Beluluane Free Zone a
favoured location with the Southern African region for industrial and
export-oriented activities. Enterprises operating there benefit from
significant exemptions in customs and tax duties, with the emphasis on
the IRPC [Corporate Income Tax].
“The burden of IRPC in Mozambique
is 32%. Companies operating under an industrial free zone regime enjoy
exemption in the first 10 years, during which there is no IRPC to pay.
From the 11th to the 15th year of activity, there is a 50% exemption,
that is, instead of paying 32%, they pay 16%. And from the 15th year of
activity to the remaining life of the project, there is a 25%
reduction, that is, companies only pay 75% of the 32% IRPC tax rate,
meaning that they pay 24%,” Manuel explains.
Manuel stresses that the companies in
Beluluane Industrial Park make the best use of an industrial umbrella
that ranges from access to energy and water, good roads and modern
information technologies. This, combined with the Park’s
strategic location, means exporters enjoy a considerable advantage when
competing in world markets.
“Investors compare all these factors
when they are thinking about whether to settle in Mozambique or in
another SADC country,” Manuel points out. The 2020-2030 Beluluane Development
Master Plan foresees approximately US$100 million being used to create
infrastructure in the more-than 500 hectares of the area yet to be
developed. Another important step is connected
to the roll-out of the Park concept to other parts of the country,
including Cabo Delgado, on account of its emerging oil and gas industry. “We are attentive to these
opportunities, and seeing if there may be industries willing to settle
here that could leverage the complementary down-stream areas in the oil
and gas industry,” Onório Manuel concludes. Natural gas from the Rovuma basin is
behind a 2,000 MW energy generation project already approved for the
Beluluane Industrial Park.
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