Mozambique media reported that the deputy director of the Mozambican National Industrial Bureau revealed that the Mozambican government will introduce a new tax policy to attract investment in the textile industry, that is, investors will no longer pay corporate tax in the first 10 years, and will pay 50% of the corporate tax in the 15th year.
Recently, Aga Khan Company purchased Texlom, a large textile factory in Matola; Tanzanian company METL bought the Texmoque textile factory in Nampula; South African and Indian companies respectively invested in Marakwane County (30 kilometers away from Maputo). Riopele textile factory in Marracuene. The above situation prompted the Mozambican government to introduce new policies to protect state-owned industries. A few years ago, the Mozambican government began to stimulate industrial investment by exempting imported equipment and raw materials from tariffs. In 2008, 42 companies made profits. This tax exemption applies to all industries except beverages and tobacco.
