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Tue, 18 Feb 2020 12:15 - Updated Tue, 18 Feb 2020 12:15

Angola has potential to supply food worldwide

Luanda - Angola has the potential to be a food exporter for a growing global population, as it has an area of almost 1.3 million square kilometres of land, 49 percent of which is arable and less than 10 percent exploited, the chairperson of the US-Angola Chamber of Commerce (USACC), Maria da Cruz said on Monday.

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Speaking to American and Angolan managers and businesspersons, the USACC chairperson stressed that this reality of Angola poses a unique investment opportunity for American companies.

American companies can play a key role in the market through partnerships in logistics infrastructure, agribusiness, processing plant initiatives and know-how transfer, she said.

Maria da Cruz also underscored the fact that the Angolan government is taking concrete and firm steps to strengthen the rule of law, make the business environment easier, more transparent and more predictable.

Angola's economy is now diversifying, a factor that helps attract foreign direct investment and promote inclusive development for the benefit of ordinary citizens, Cruz said.

Business expansion

She also recognised that the US has the potential to invest in almost all economic areas, although most of its investments in the Angolan market are currently in the oil and gas sector.

On his turn, the chairperson of the Angola-US Chamber of Commerce (AmCham Angola), Pedro Godinho, stressed that the organization he leads supports American companies and businesses in Angola.

AmCham is committed to deepening relations with American companies, making partnerships and direct investment in all areas of the economy - agriculture, fishing, construction, energy, finance, tourism, transportation, industry, oil and gas, Mr Godinho said.

According to Pedro Godinho, with the visit of the American Secretary of State, Mike Pompeo to Angola, the country will attract more attention from investors and will be able to capitalize on recent improvements in the business environment.

"Angola is a remarkable country, it is making concerted efforts to diversify its economy. It is rich in natural resources, politically stable and geographically well positioned to be the import/export centre of Southern Africa," said AmCham chairman.

The US has over 100 companies in Angola operating in the oil and gas field, as well as in other areas.   These activities contribute approximately to 50 percent of the country's Gross Domestic Product (GDP) and around 89 percent of exports.

The forum, promoted by the US-Angola Chamber of Commerce in partnership AmCham, among other individuals, was attended by the U.S Secretary of State, who paid an official 24-hour visit to Angola.

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