The Association of European Chambers of Commerce (EUROCAM) defends the maintenance of permanent dialogue between the Government and the private sector, and the application of "courageous" reforms for Mozambique to attract more Foreign Direct Investment.

EUROCAM also points to the need for the Government to invest more in Small and Medium Enterprises (SMEs).

According to the president of the association, Simone Santi, to invest in this sector is to increase the Gross Domestic Product (GDP), which will attract more foreign investments and boost the country's socio-economic development.

The source sees the recent announcement of the resumption of direct support for the Mozambican State Budget by the International Monetary Fund (IMF) and the World Bank, as well as the large investments in the energy and hydrocarbon sectors, as a clear sign that with the attraction of foreign direct investment, Mozambique is opening a window for more consistent economic growth.

"The progress in the implementation of the Rovuma natural gas projects in Cabo Delgado is a positive. It is indisputable that Mozambique needs a more dynamic business sector, which implies making bold reforms and massificing foreign direct investment," Santi said.

At a time when Europe is moving towards energy transition, Mozambique has, according to the source, enormous and little-exploited resources such as biomass, water potential, geothermal, ocean, florestal and agricultural mass, which can be a key element for said change.

The source indicated that Mozambique's gas is recognized by the EU as one of the factors in the energy transition. Regarding hydrocarbons, the source said that although Russia is the largest supplier of gas to Europe, there will soon be a need for the old continent to seek other partnerships due to the military conflict with Ukraine.

The conflict between the two countries, according to the source, opens an opportunity for Europe to start buying gas produced in Mozambique. "This is a great opportunity for Mozambique. The country's first gas exploration will be this year and Europe will be one of the beneficiaries," he noted.