Portuguese investment projects in Angola double in 2006

10 July 2007

Lisbon, Portugal, 10 July – The number of Portuguese investment projects in Angola more than doubled last year, totaling 191, and is expected to continue growing this year, according to a report from Portugal’s agency for foreign investment and trade (AICEP).

In the first quarter of this year, according to figures from the Angolan agency for private investment (ANIP) cited in AICEP’s report published Monday in Lisbon, the total amount of Portuguese investment projects approved in 2006 was greater than those approved between 2001 and 2005 (190).

In the first quarter of this year, 56 Portuguese investment projects were approved, which is expected to rise to a total of 200 projects by the end of the year.

In terms of the amount invested, this more than tripled within three years – from 103 million euros in 2004 to 330 million euros last year.

Two years ago, Angola was the 15th investment destination for Portuguese companies, having risen to sixth last year, accounting for 5.9 percent of the total.

According to AICEP, there are over 200 Portuguese companies set up in Angola at the moment.

Bilateral trade growth has also been significant.

Between January and April this year, according to figures from the Portuguese National Statistics Institute (INE) exports to Angola rose 49 percent to 492 million euros.

Portugal thus continues to be Angola’s main supplier, with a 17 percent share, ahead of countries such as the United States (9.8 percent), Brazil and China (8.5 percent each).

In the same period, Portugal imported almost 29 times more from Angola than in the year ago period, a total of 81 million euros, mainly in oil products. (macauhub)