Angolan ministry receives proposals for 44 investment projects

30 July 2007

Luanda, Angola, 30 July – Angola’s industry ministry received 44 investment proposals worth a combined US$ 103 million in the first six months of this year, media reported.

Jornal de Angola cited Kiala Gabriel, head of the Industrial Development Institute (IDIA), as saying that if approved, 10 projects in the metal-mechanical sector and 12 in the food industry could generate 2,000 and 317 jobs, respectively.

The IDIA director noted that 75 percent of the proposed projects are in the Luanda area due to the capital’s economic buoyancy in relation to the rest of the country.

Luanda and Benguela currently have the best economic conditions in Angola, said Gabriel, but the Luanda industry ministry wants to achieve more balanced development in other regions.

The industrialization of the Angolan economy will not be limited to the three existing manufacturing hubs, Viana, Catumbela and Futila, as the government aims to create an industrial zone in each of the country’s provinces, the official explained. (macauhub)