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Fri, 14 Jul 2017 16:54 - Updated Fri, 14 Jul 2017 16:56

Entrepreneurs told to create credible projects to attract India's credit

Luanda - Angolan businessmen should come up with workable projects that meet the requirements of Export and Import Bank of India (Exim-Bank-India) credit line to have access to financing, said the chairperson of the Angolan Association of Banks (ABANC), Amílcar Silva.

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Participants in economic forum on Exim-Bank-India credit line

Photo: Clemente dos Santos

Amílcar Silva was speaking to the press at the Angolan-India economic forum, held Friday in Luanda under the motto "Exim-bank credit lines to support national entrepreneurship".

According to him, the partnerships could greatly contribute to diversification of the national economy.

Amílcar Silva said that the entrepreneurs wishing to benefit from the medium, short and long-term funding should work with Angolan banks to avoid problems and be aware of the requirements of both countries laws.

He clarified that the credit line does not increase the capacity to import, but anticipates.

"India has the capacity to export products that are adaptable to the country at good prices and with quality," he said.

In his turn, the manager of the Agency for the Promotion of Investment and Exports of Angola (APIEX), Mário Leonel, said the current moment the country experiences is adequate to guarantee a proper environment for the implementation of private investment policy, outlined by the Angolan Executive.

He said that such environment can help protect the private investment, abide by the free market rules, promote the free movement of goods and capital as well as comply with international agreements.

The forum was sponsored by the Angola Investment and Export Promotion Agency (APIEX), in partnership with the Indian Embassy in Angola.

The forum also aims to provide a favorable business environment in which Angolan and Indian businessmen will be able to explore possible business opportunities.

Entrepreneurs from both countries and representatives from the sectors of general trade, manufacturing, processing and recycling (plastic) are attending the meeting.

According to data, the trade between Angola and India stood at USD 7.6 million in 2012/2013.

Tags Banca   Economy  

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