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Thu, 21 Mar 2019 13:13 - Updated Thu, 21 Mar 2019 13:13

Angola needs to speed up industrialization to take advantages of FTZ

Malanje - Angola needs to speed up its industrialization process through the adoption of more efficient policies that diversify its economy for this country to take advantages of the Southern Africa Development Community (SADC) Free Trade Zone (FTZ) when the country joins it this year, said on Wednesday the head of the Customs Services of the Second Taxation Region, Arlindo Manuel Sacachimbe.

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The head of the 2nd Taxation Region, which includes the provinces of Malanje, Uige and Cuanza Norte, presented this vision while speaking on "Angola's adhesion to the SADC Free Trade Area”, a seminar addressed to entrepreneurs, academics and members of the Fiscal Police.

According to the official, it is important that Angola be compared in terms of development to other member countries of the region that are already part of the zone, so as not to be  swallowed and fail, which initially implies a strong bet on the diversification of the economy with highlight on the manufacturing sector.

This, said the official, opens up more alternatives for exports, which are currently heavily dependent on diamonds and oil, a result of a set of public policies that were adopted in the 2002-2013 period that focused essentially on two sectors (oil/gas and diamonds), to the detriment of agriculture and other sectors  that contribute to an effective economic robustness.

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