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Angola wants France's aid to build strong economy

Wed, 06 Feb 2019 11:18 - Updated Wed, 06 Feb 2019 11:15

Manuel Nunes Júnior, minister of State for Economic and Social Development Photo: Antonio Escrivao

Luanda - The Angolan government is counting on French government's aid to build a strong economy, become less reliant on oil and competitive enough to generate prosperity.

This was said on Tuesday by the Angolan minister of State for Economic and Social Development, Manuel Nunes Júnior, during the opening of Angola/France Business Forum.

On the occasion, the Angolan official stressed that the current cooperation relations between the two nations are too focused on oil and gas, which is a picture that needs to be changed.

Meanwhile, the minister pointed out agriculture as one of the sectors to get investment from France in this new cooperation era, taking into account the huge experience this European country possesses in this field.

With this new bet, French businesspeople are expected to invest in agriculture, providing that Angola has fertile soils that can aid the country to become self-sufficient in food production.    

French businesspeople were also invited to invest in agribusiness, transports, finance, tourism, construction and education, as well as all other sectors that could aid Angola to diversify its economy.

Manuel Nunes Júnior reminded French and other foreign investors that currently it is easier to get entry visa for Angola, following the creation of the visa for investors.

The visa for investor enables multiple entries and stay in Angola up to two years, which can be extended.

The most important aspect is that those having an interrupted three-year visa stay in Angola are eligible to get authorization for temporary residency permit.  

Angola recently approved a new Law on Private Investment and other juridical tools, with a view to improving the business environment in the country.

Angola-France forum counts on the presence of 29 French businesspeople in representation of 21 firms.

The meeting is expected to bolster the economic relation between the two nations, following the official visit of the Angolan President, Jõao Lourenço, to France in May, 2018.

In Angola, France has a strong presence in the oil sector through the TOTAL Company, which is the largest offshore firm in the country, recording a 700,000 barrels day output.