The Ministry of Industry and Commerce (MIC) in coordination with the Ministry of Justice (MJ) and Confederation of Business Association of Mozambique (CTA), has requested SPEED+’ assistance to review and make recommendations for revisions to Mozambique’s Commercial Code. The review will be completed in two phases. The first phase targets an immediate goal of improving Mozambique’s score on two Doing Business indicators: Starting a Business and Protecting Minority Investors. SPEED+ will provide technical assistance and work closely with MIC and relevant stakeholders to identify necessary reforms, taking into account the recommendations made by the IFC in 2015, and the criteria used by the World Bank in developing the Doing Business report for Mozambique. In the second phase, SPEED+ will conduct a deeper, overall review of the commercial code to align with international best practice and the requirements of a modern commercial code that supports private sector competitiveness.
During Year 2, SPEED+ consultants will engage government entities (including the Ministry of Justice, Constitutional and Religious Affairs, the Ministry of Economy and Finance, the Ministry of the Interior, the Ministry of Science and Technology, the Mozambican Tax Authority, the Investment Promotion Center, the Office of the Accelerated Economic Development Zones, etc.), private sector representatives (Confederation of Economic Associations of Mozambique, the Commercial and Industrial Association of Mozambique, the Order of Accountants and Auditors of Mozambique, the Mozambican Bar Association, the Institute of Directors of Mozambique, the Center for Public Integrity, etc.), and cooperation partners (Private Sector Working Group). The study will include a review and comparison of global best practice in the areas where reform is required with particular attention to Mozambique’s direct competitor countries.
The resulting recommendations for reforms to the Commercial Code will be presented in a detailed report of the work and presented in a workshop to Government and other stakeholders. Among the potential reforms, SPEED+ will identify and seek agreement with MIC and USAID on Commercial Code Reforms to be drafted, and prepare a legal draft of the revision of the Commercial Code.