(MENAFN) Mozambique has voiced its support for collaborating with Russia and other nations to establish a new global financial system that fosters economic growth across Africa. The statement was made by Planning and Development Minister Salim Vala during the “Russia-Africa Business Dialogue” at the 28th St. Petersburg International Economic Forum (SPIEF).

Vala emphasized that while Mozambique is rich in resources like natural gas, gold, coal, and rubies, its greatest asset is its people. He highlighted the country's 20-year development strategy, which focuses on moving beyond dependence on fossil fuels toward agricultural modernization and industrial growth.

“We aim to build a new financial structure with support from Russia, fellow African nations, and other developing countries to grow businesses and strengthen the private sector,” Vala said. He also advocated for reshaping global views of Africa, emphasizing a future driven by education, health, and innovation.

He stressed that investing in infrastructure is essential for reducing inequality, creating jobs, and attracting investment. Vala added that working with international partners like Russia is key to building both economic and social frameworks for sustainable development.

Eugenio Alberto Macumbe, head of Mozambique’s Digital Governance Division, also praised Russian expertise in digital transformation and artificial intelligence (AI). He noted the importance of learning from Russia, which he described as “highly advanced” in this area.

At the Mozambique Technology Fair in May, Vala reinforced the pivotal role of ICT in national progress, underlining its potential to accelerate the country's development ambitions.

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