HAVING COORDINATED the privatization of 1,200 state-owned enterprises since its creation in 1992, the Finance Ministry's Technical Unit for Enterprise Restructuring (UTRE) is continuing to monitor the process of turning over state-held assets to the private sector. UTRE's managing director, Momade Juma, is pleased with the success of the privatization process.

"We have managed to develop a strong partnership between the private and the public sector, which would be worth-while for other countries to explore." Foreign direct investment amounts to 3.3% of Mozambique's GDP and Mr. Juma gives foreign investors a good deal of the credit for the transformation of the country's economy. The privatization process, he points out, "wasn't targeting only domestic, but also international companies and private investors. It was national capital in conjunction with this inflow of foreign capital which has facilitated the implementation of a market-driven economic model." And along with capital has come expertise and a market-oriented outlook.

"The alliances and partnerships between foreign and Mozambican investors and entrepreneurs have triggered an entrepreneurial spirit and enhanced local know-how," Mr. Juma believes. Businessmen have been able to draw on a highly motivated workforce. "Top managers in this country are really capable, and employees are extremely hard-working and learn fast," comments Mr. Juma. He emphasizes that Mozambicans are committed to the reconstruction of their country and adds: "I believe we are doing a great job."