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Tue, 20 Aug 2019 18:17 - Updated Tue, 20 Aug 2019 18:17

Minister invites US investors

Luanda - Foreign Minister Manuel Augusto Monday in Washington invited US investors to participate in the future privatization process in the country.

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Manuel Augusto, Foreign minister (file)

Photo: Clemente dos Santos

The Angolan official, who was speaking at a lecture at the Atlantic Council in the US capital, said it was an opportunity for US companies to invest in Angola.

The Angolan Government plans to privatize, by 2022, at least 195 companies, under the Privatization Program (PROPRIV).

The aim of this program is to boost job creation in the country, especially those that eventually stop or work at "slow pace", increasing their competition and efficiency in the Angolan economy.

For some state-owned strategic companies, such as Sonangol, TAAG and the alike, the World Bank-supported privatization program will be partial.

Manuel Augusto, who made a two-day visit to the US, also considered as excellent the political-diplomatic and cooperation relations between the two countries.

Trading between the two countries reached US $ 3.4 billion at the end of 2017, with Angola exporting products valued at US $ 2.6 billion and the United States of America around US $ 800 million.

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