Luanda, Angola, 22 Nov – The Angolan government plans to create three duty-free industrial areas in order to encourage the industrialization of the country, whose infrastructures were destroyed during the civil war, the minister of industry, Joaquim David said Tuesday in Luanda.
According to the minister, the three duty-free industrial areas will be set up in the provinces of Luanda (Viana), Cabinda (Futila) and Benguela (Catumbela).
Duty free areas have support infrastructures for industrial production, which have several tax, labor and financial benefits.
David, who was speaking at the opening of a seminar on the theme of “Industrial Duty Free Areas as a Mechanism for Attracting Investment,” noted that setting up these facilities would be part of the National Reconstruction Program and aimed to support the development of the manufacturing sector.
He said that creating the duty free areas would attract more investors to Angola, which would create new jobs and, thus, reduce poverty.
According to the minister, cited by Angolan news agency Angpop, the measures to promote the development of the country’s industry would also include public investment to improve telecommunications networks, roads and water and electricity supplies.
Increasing availability of land for industrial use in areas considered to be strategic is another measure that the Angolan government plans to develop in order to promote the industrial sector.
According to David, creating the duty free industrial areas would make it possible to reduce the Angolan economy’s excessive dependency on the oil and diamond sectors, as well as allowing for the diversification of exports. (macauhub)