The expansion of the Port of Sines, a facility that may become part of the Belt and Road initiative, has been awarded, and now the tender for the concession of the new Vasco da Gama Terminal is underway.
Despite substantial reforms to attract investment, which have already reflected in an improvement in the global corruption perception index, the Angolan economy is still in negative territory. Heavy reliance on oil exports means Angola’s GDP is highly exposed to “contagion” from the effects of the coronavirus crisis in China.
China continues to strengthen its position as the largest bilateral creditor of Mozambique and is expected to continue as such in the coming years, due to new credits being negotiated by the governments of the two countries, according to official figures.
Angola has a high potential for agriculture on a large scale and can diversify its economy through this sector in order to overcome some constraints, according to the International Financial Corporation (IFC), of the World Bank.