Spanish companies look to invest in Angola

8 October 2007

Luanda, Angola, 8 Oct – Spanish companies plan to invest in Angola in the fishing, road building, telecommunications and electricity sectors, the Spanish embassy’s economic and commercial attaché, Mariano Muela said in Luanda Friday.

Cited by Angolan newspaper Jornal de Angola, the diplomat said that the companies that planned to invest in Angola would do so via the country’s economic missions, with the Spanish Chamber of Commerce as an intermediary.

IN order to reach this goal, a schedule of contacts is being drawn up to make it easier to obtain information about Angola’s economic reality, in the area of setting up businesses and the legal framework in force.

Spain plans to boost its economic relations, with companies focused on project development, analysis and construction of bridges, as well as providing infrastructures.

Spain exports many products to Angola including consumer goods, hospital equipment and fishing vessels, while importing oil, mineral and miscellaneous products from Angola.

In 2003, Spanish private funding in Angola totaled over US$1 billion, channelled into the health, energy, machinery and equipment sectors. (macauhub)