Angola businesspeople in Sao Tome and Principe to analyze investment opportunities

21 March 2007

Sao Tome, Sao Tome and Principe, 21 March – Sao Tome and Principe and Angola have begun making business contacts in order to re-launch Angolan investment in the archipelago, the Sao Tome Economy Minister, Cristina Dias said Tuesday in Sao Tome.

The Sao Tome minister was speaking at the opening of a seminar on “Investment Opportunities in Sao Tome and Principe” as part of a visit by an Angolan business mission to the capital of Sao Tome, in order to boost bilateral cooperation.

Dias said that the government of Sao Tome and Principe was setting up the conditions, namely infrastructure and legal framework, to encourage Angolan private investment and set up partnerships between companies from both countries.

Having recognized the Sao Tome State’s responsibility in guaranteeing and normalizing the electricity, drinking water, roads, port and airport, Dias called on Angolan businesspeople to invest in tourism, fisheries, agriculture and commerce, which are seen as priority sectors in Sao Tome and Principe.

In his speech, the head of the Angolan business mission, José Rodrigues Alentejo, director of the Angola Chamber of Commerce and Industry, said that the Angolan government was interested in this business initiative as part of economic cooperation with Sao Tome and Principe.

Angola, which is considered to be one of the most influential partners for Sao Tome’s economy, has held the monopoly on supplying fuel to the archipelago for over 20 years, via Angolan company Sonangol, as well as controlling the production of beer via the only factory of its kind, Rosema, which was privatized over eight years ago to Angolan group Mello Xavier. (macauhub)