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Tue, 10 Sep 2019 19:06 - Updated Tue, 10 Sep 2019 19:06

Angola reassures private investors

Brazzaville - The President of the Republic, João Lourenço, announced on Tuesday, in Brazzaville, that Angola has created the necessary conditions for foreign investors to do their business in the country, transparently and safely.

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Brazzaville: President of Republic, João Lourenço

Photo: Foto cedida

According to the Angolan Head of State, who was speaking at the 5th "Investing in Africa" Forum (FIA5), the new scenario is the result of reforms undertaken by the Government in all sectors of the national economy and at all levels.

He explained that his government has decided to “take practical and coherent action” to adopt measures aimed at creating conditions of macroeconomic stability that are essential for improving the business environment.

To this end, he said, Angola is implementing an economic stabilization program “with very encouraging results” in fiscal consolidation, the reduction of the inflation rate and the gradual normalization of the foreign exchange market, among other indicators, which contribute to improving the performance of the national economy.

He confirmed that this effort is being undertaken with the support of the World Bank (WB) and the International Monetary Fund (IMF) to help improve Angola's business environment and provide technical assistance for the privatization of some 200 companies and public assets.

“In light of these steps (…) we want to make it clear to investors (…) that the foundations for transparency, free competition and legal protection of their investments are being laid to secure investments in Angola,” said the Head of Angolan state.

He added that the Angolan market is open to private investment and offers advantages of its privileged geographical location, fertile land, water resources and other unexplored resources.

Following his speech at the opening session of the FIA5, President João Lourenço returned to Luanda, and for the rest of the event that ends Thursday, should be represented by the Minister of Economy and Planning, Manuel Neto da Costa, according to source from the Secretariat of the Presidency of the Republic

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