Increased private investment registered in Angola

20 July 2006

Luanda, Angola, 20 July – Private investment in Angola from 2003-2006 reached a value of US$ 2.8 billion and 76 percent of this amount was in the civil construction sector, says Carlos Fernandes, chairman of the board of directors of the National Agency for Private Investment (ANIP).

Fernandes told a conference Wednesday that the largest amount of foreign investment occurred in 2005, reaching a value of US$ 2.5 billion and the civil construction sector accounted for 85 percent of this figure.

According to ANIP statistics, overseas investments in 2002 reached a value of US$ 25 million, with real estate being responsible for 41 percent of this amount. In the period 1990 to 2001 investments reached more than US$ 1 billion and the mining sector represented 43 percent of this value.

In relation to employment, Fernandes said the total number of jobs created from 1990 to 2001 was 30,317, while between 2002 and 2006 this figure stood at 53,683.

The province of Luanda has the highest concentration of technicians as it enjoys the best national infrastructure conditions and is the destination of most private investment, noted the ANIP chief.

The average ratio of foreign to national employee from 1990 to 2001 was about 12 percent and the same index was recorded from 2002 to 2006, Fernandes told the Luanda conference which was promoted by the ruling MPLA party.

Angola’s deputy ministers of finance and public works also addressed the conference on issues relating to macroeconomic stability and rehabilitation and building of roads and bridges across the country. (macauhub)