Non-oil investment in Angola totals US$2.6 billion in 2005

12 April 2006

Luanda, Angola, 12 April – Angola received almost US$2.6 billion un non-oil related investment in 2005, according to preliminary figures released Thursday in Luanda.

A provisional version of the 2005 report from the National Agency for private Investment (ANIP) said that 290 projects were approved to a total value of US$2.57 billion.

Most of the investment was in the constructions sector, which accounted for 85.4 percent of the total, followed by industrial, transport and communications projects.

The non-oil sector of Angola’s economy is expected to grow around 11.9 percent this year, according to Finance Ministry forecasts, and contribute to gross domestic product (GDP) growth of 27.9 percent.

Portugal, the United States of America and South Africa were some of the countries that invested most, together with China, whose companies benefited from a credit line guaranteed by oil exports of US$3 billion granted to the Angolan government. (macauhub)