One of the important strategies of Budget 2016/2017 is reforming business facilitation and expanding our economic horizons which aims to free our economy from the stifling bureaucracy and get it out of the constraining mould of laws, regulations and administrative procedures that have not been able to adapt to the new exigencies.

The first measure is to cut drastically the time it takes to deliver Building and Land Use Permits and clearances for all construction related projects. To this end, the requirement for approval by the Executive Committee of the Local Authority concerned when determining a BLP is being abolished and the Local Authority will have only 8 working days to seek any additional information from an applicant.

The Property Development Scheme (PDS) will be reviewed and the PDS regulations will be amended to remove the maximum size limit of 50 arpents, to remove the requirement to sell at least 25 percent of residential units to Mauritian buyers and to review the current maximum permissible land size for a villa, from half an arpent to 1.25 arpent.

An e-licensing platform will be set up to provide a single point of entry for applications for permits and licences. This will bring down submission of documents in some cases from around 48 copies to just one copy.

The Investment Promotion Act will be amended to authorise the Board of Investment (BOI) to issue the necessary clearances and approvals for a business to start operation in cases where the statutory deadlines for processing applications have lapsed. This is in line with the Silent Agreement Principle. It should unlock a significant number of projects which are in the pipeline, accelerate job creation, turn around the declining trend in private investment, increase FDI and boost up economic growth.

The Budget 2016/2017 makes provision for introducing the Regulatory Sandbox Licence in Mauritius. The BOI may issue approvals, permits and licences to start an innovative project after consulting relevant ministries.

To further open the economy the Budget will allow noncitizens, registered with the BOI, subject to security clearances, to acquire apartments and business spaces in buildings. The Noncitizens (Property Restriction) Act will be amended accordingly.

Luanda — The prices of basic commodities in the Luanda market recorded an increase that is reflected on foodstuff with the 25 kg bag of rice, which earlier this year cost 2,500 kwanzas, being now sold at the price of ten thousand kwanzas.

For a box of chicken thighs and ribs in wholesale warehouses of Cometa are in Viana municipality, they cost 7,700 and 12,000 kwanzas, respectively.

In this period, Angop learnt that the consumer spends much money for the purchase of foodstuff.

The canteen owner Costa Morais said that profits from the sale of detergents and foodstuff are good.

For a box of spaghetti, consumers are paying now 4,000 kwanzas if compared to the previous 1,200 kwanzas.

Economist points out macro-economic customs factors

Macro-economic and customs factors are the main reasons for the imbalance of prices in informal markets and shops, according to economist Manuel Lourenço.

“The domestic production cannot meet demand that is higher. Business people are taking advantage of speculating the prices. Many of them are taking advantage of the situation to compensate their profits”, he stressed.

The expert believes that the supply and demand will have balance when there is an increase in domestic production and a consequent reduction in imports.

Trade alerts agents to combat speculation

The Inspector General of Trade, Heleno Antunes, ensures that the institution will continue to inspect small and large shopping centers in the country.

The aim is to combat speculation in the prices of basic food products. Heleno Antunes spoke at a Round Table in the National Radio of Angola, on the monitoring of prices in supermarkets.

The traders who opt for speculation prices are subject to punitive and corrective action by the competent bodies of inspection and supervision.

The implementation of logistic platforms, in the future, will contribute to the diversification of the national economy, said on Saturday in Luau municipality, eastern Moxico province, by the local governor, João Ernesto dos Santos “Liberdade”,

Speaking at the opening of the regional meeting on logistic platforms, the official stressed that the meaning of the economic platforms illustrates clearly and transparently the policies and strategies that the Ministry of Transport is promoting to better diversify the economy and face the slow growth faced by the country now.

“Iam pretty sure that the implementation of the logistic platform of Luau will also help the economic and social development in Moxico province, in particular, as well as the eastern region of the country and the bordering countries”, he stressed.

João Ernesto dos Santos stated that Luau municipality, as it is situated at the Lobito Corridor through the Benguela railways (CFB), will gain new infrastructures such as shops, banks, modern garages, hotels and other equipment, under the implementation of the logistic platforms.

The fundamental objective of the cross border meeting was to improve the competition between the companies, to develop the economy and create new workplaces for Angolan young people so that they may contribute to the socio-economic development of the country.

Luanda — The Angolan Agriculture minister, Afonso Pedro Canga, said that there are investors in the cultivation of exotic plants.

The minister said so on Tuesday at a press conference held in Luanda, under the government’s Corporate Communication and Marketing Programme (GRECIMA).

The meeting with the press is expected to be one more opportunity for the incumbent minister to better put across and explain the main projects of his sector aimed at the diversification of the country’s economy.

Luanda — The Angolan government reaffirmed last Monday in Luanda that it will not resort to technical assistance from the International Monetary Fund (IMF), due to its recent efficient economic performance and other sources of financing.

A press communiqué from the Finance Ministry on the “Fiscal perspective and indicators of the macroeconomic performance for the first semester of 2016”, which has reached ANGOP, states that “the country will continue to hold dialogues to share opinions in the domain of its economic policy (…)”, adding that despite this option the government will continue to hold talks with the IMF for the continuation of the technical assistance programme, reason why a delegation from that international institution is expected back in Angola next October.

In the visit made to Angola last June, reads the note, the IMF delegation had “frank and constructive dialogue with the Angolan Finance Ministry.

The Angolan government has recognised the suggestions made by the IMF team on the reforms needed for the protection and diversification of the country’s economy.

The note also explains that the decision to get financial assistance from the IMF had been taken in a context in which the price of the country’s main commodity, crude-oil, was falling steeply in the international market, which the prevision of reaching USD 20 per barrel.

The note states also that the outlook is now more encouraging with the recent rise in the international price of crude-oil.

However, states the note, the Angolan Executive continues to show commitment to executing its structural reform programme.