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Sat, 25 Oct 2014 09:14 - Updated Sat, 25 Oct 2014 09:13

Real Economy Commission reviews diversification plan

Luanda - The Cabinet Council’s Real Economy Commission Friday in Luanda reviewed the Executive Programme of the Economy Diversification Acceleration Plan that comprises reforms intended to improve the sustainability of the structure of growth and development of the country’s economy.

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Cabinet Council's real economy commission meets

Photo: Lucas Neto

The information is contained in a press release from the session chaired by the vice president, Manuel Domingos Vicente.

According to the source, the Commission recommended the ministerial departments of Economy, Finance and Reserve Bank to continue with the concert process.

The process of concert is one that involves all ministries that play a part in the real economy, seeking to bring into the forum of discussions more direct and indirect actors involved in the national economy diversification process, including the banks and financial institutions.

The 12th Ordinary Session of the Real Economy Commission also recommended the drafting of an action plan for the immediate implementation of actions based on investments made by the State in infrastructures and plants in various sectors around the country.

In the fisheries domain, the Commission analysed the Plan of action for the Development of Agriculture in Angola for the 2014/2017 period, with the purpose of artificial production of various types of fish.

As to the regulation on the access to the development of the national mineral resources, the Commission reviewed a draft law for specific alterations to the Mining Code.

The said draft  aims, among other purposes, at incrementing and participation of the State in the social capital of the mining societies and relaxation of the fiscal regime applicable to artisan production.

In view of the Angola Industrialisation Programme, under the National Development Plan for 2013/2017, the Commission reviewed a programme for restructuring the institutes under the Ministry of Industry.

The restructuring programme seeks the creation of more efficacious instruments to boost the national industry.

In this regard, new institutes will be created, like the National Institute of Innovation and Industrial Technologies and the Angolan Institute of Accreditation.

On the other hand, the Commission was informed on the process of financing and implementation of the Angola-Brazil Submarine Cable and its expansion to the United States of America.

The Economic Commission of the Cabinet Council is a technical organ of support for the head of the Executive in the formulation and management of the policy of foment of the productive sector and competitive and innovating companies in the attraction of national and foreign investments.

It ensures the management and foment of the production and companies, in line with the goals and priorities set by the productive sector, as per the Governing Programme of the President of the Republic.

The Real Economy Commission is chaired by the vice president, assisted by the Minister of Economy.

It includes the ministers of Planning and Territory Development, Finance, Oil, Energy and Water, Agriculture, Fisheries, Commerce, Geology and Mining, Industry, Transport and Construction.

Other parties are the ministers of Urbanisation and Housing, Telecommunication and Information Technologies, the secretary to the President of the Republic for Economic Affairs, the assistant for Economic Affairs to the vice president of the Republic.

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