Angola’s Catumbela industrial hub to begin second phase of allotment to companies in 2007

8 September 2006

Luanda, Angola, 08 Sept – The Catumbela industrial development hub in Angola is expected to begin its second phase of allotment of land for the food industry, construction, furniture and footwear sectors, Angolan news agency Angpop reported.

The agency cited the coordinator of the development’s management commission, Lourenço Esteves, who said he had had contacts from several companies wanting to invest in the region, which has traditional industries and accesses that make it possible to distribute products, whether through Lobito port, Catumbela airport, or road and rail.

The first allotment phase divided the land into 5,000 square meter lots, 70 of which were for warehouses, 74 for light small industry, 32 for light medium-sized light industry and 52 lots for large-scale light industry.

The hub, which is run by the Industry Ministry, has a total area of 2,200 hectares.

The industrial park houses 44 light industry companies (such as textiles, clothing, footwear, tobacco, electronics, construction), but only five are currently active.

In order to provide incentives and tax benefits for industrial companies investing in the hub priority is given to food, packaging, machinery and equipment, textile, clothing and footwear, wood and paper, food, construction materials, health, education and telecommunications projects.

If investments are of between US$50,000 and US$250,000, business owners will benefit from an eight-year tax and customs exemption. (macauhub)