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Angolan president reiterates improvement of business landscape

Wed, 28 Aug 2019 14:05 - Updated Wed, 28 Aug 2019 14:04

Japan: President of the Republic, João Lourenço

Photo: Cedida

Luanda - Angolan president, João Lourenço, reiterated on Wednesday in Yokohama, Japan, that his government is implementing an extended programme, with aim of improving business environment in the country and entice foreign private investment.

Angolan Head of State, who was addressing a panel in the 7th Tokyo International Conference on African Development (TICAD7) in which 54 African leaders are also attending, said with World Bank’s assistance the government is implementing an extended programme for the privatization of firms and public actives.

Angola’s president explained that the programme for the improvement of business landscape in the country has enabled to simplify required procedures and reduced time in various public firms providing services to private sector.

The programme intends to privatize until 2022, a total of 195 firms being some of them strategic for the country, such as the State oil Firm (Sonangol) and Angolan Airlines (TAAG).

Joaõ Lourenço underscored that the privatization programme is expected to promote Angola’s economic growth, boost private investment, increase jobs offer, contribute to efficiency of domestic firms, reduce production cost and promote more competitive prices.

He spoke of the combat against corruption undertaken in Angola, a phenomenon he said, is a huge burden upon businesspeople and society in general, since it distorts completely the basic principles of transparency, fair competition and justice, undervaluing merit and competence.

Angolan government and concerned justice organs are carrying out measures to tackle corruption and impunity to build a true rule of law and real economy market in the country, João Lourenço said.

He explained that the Angolan government is currently implementing a macroeconomic stabilization programme with aid of the International Monetary Fund (IMF), to create stable macroeconomic conditions and better business environment.

Angolan leader added that the programme has enabled to achieve positive results such as fiscal consolidation, reduction of inflation rate, gradual normalization of foreign exchange market, treasury bonds and international reserves.