Luanda, Excessive bureaucracy, including high levels of taxation and difficulty in obtaining property records, is one of the main obstacles to setting up companies in Angola, Angolan newspaper, Jornal de Angola reported.
The statement was made Monday in Luanda by the national coordinator for the Angolan Business Program (PEA), Constância Silva, who called on similar institutions to be set up in order to help people to create companies, both as individual or as a group.
Speaking about a meeting about setting up companies, to be held in Luanda Thursday, Silva said that the meeting aimed to promote dialogue between the different parties involved in setting up companies.
“Due to the level of bureaucracy in the entire process for opening up a company, a citizen has to spend around 100,000 kwanzas. That is a high figure,” said Silva, adding that setting up conditions to boost low level economic activity was a duty of the State.
The administrative steps for setting up a company were numerous, complex and restrictive, and affected the rate of modernization and often, the credibility of standards and the institutions that apply them, Silva said.
The meeting on “Setting up companies: simplifying to boost the private sector,” is being organized by PEA in partnership with the Ministry of Justice and discussions will revolve around three areas – requirements, deadlines and taxation levels for legalizing the beginning of economic activity, the resources related to the way public administration functions and incentives to private investment.
Angola is, according to Jornal de Angola, the country amongst the Southern Africa Development Community (SADC) with the heaviest bureaucratic processes for setting up companies. (macauhub)