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Mon, 18 Nov 2019 13:08 - Updated Mon, 18 Nov 2019 13:07

Angola launches guide to facilitate Investment

Luanda - An Investment Guide, called "Angola Is Now", to stimulate and attract domestic and foreign private investment, was launched last Thursday, in Luanda.

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secretary of State for Economy, Sérgio Santos

Photo: Henri Celso

In an initiative of the American Chamber of Commerce in Angola (AmCham-Angola) and the Export Promotion and Investment Agency (AIPEX), the guide is a research tool that will give investors access to information about the business environment and opportunities of investments in the country.

The 361-page book features information on Angola's natural potential, private investment legislation, as well as the sectors of greatest interest, such as diamonds, dimension stones, iron ore, oil, agricultural, tourism, transportation, real estate and industry.

It also provides a wide range of information on the physical, geographical, environmental, economic and demographic characteristics of Angola's 18 provinces.

The work was launched in Portuguese and English versions and can also be consulted via the internet through the site: www.amchamangola.org.

The Guide highlights that Angola has the potential to leverage its economy and position itself as a major investment destination in Africa.

This potential is justified by the fact that Angola is a promising market, with more than 28 million inhabitants, with a per capita GDP of USD 440, where investment from priority sectors has the possibility of substituting imports of 3 billion dollars annually.

It has abundant natural resources with 38 of the top 50 minerals used in the industry such as diamonds, iron, gold, phosphate, manganese, copper, lead, zinc, tungsten, tungsten, chromium, marble, granite and uranium.

At the launching ceremony, AIPEX board director, Cláudia Pedro, said that due to this vision the American Chamber of Commerce - Angola (Amcham-Angola) and AIPEX combined synergies and decided to produce the guide that consolidates important information and data about the country, its potential and investment opportunities.

To the secretary of State for Economy, Sérgio Santos, Angola now intends to create a favourable investment climate, with the prospect of attracting the private sector to invest in the national territory.

As an example of market stabilization and improved business environment, he underlined that there is a process of appreciation of the national currency (Kwanza) in relation to the US Dollar and Euro.

On his turn, the chairman of the American Chamber of Commerce - Angola, Pedro Godinho, said it is urgent for the state to create mechanisms to de-bureaucratise the legal procedures, in order to facilitate the entry of foreign investors in the country.

Tags Economy  

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