Luanda, Angola, 8 Aug – Angola’s manufacturing sector registered significant expansion last year due to increasing investor interest in the sector, an official has said.
Kiala Gabriel, director of the Industrial Development Institute, told state Radio Nacional Tuesday that growing political stability in Angola since the end of its long civil war in 2002 is fostering increasing confidence among national and overseas investors alike.
“It can be said that 75 percent of intended private investment is focused on Luanda, although this trend will soon by extended to the interior of the country to give these regions new development opportunities.”
Angola’s Industrial Development Institute is a state body with financial and administrative autonomy. It reports to the Ministry of Industry and is tasked with overseeing the reindustrialization of the country through promotion, guidance and funding of new industries. (macauhub)