Angola: Industry Minister says that Angolan economy is diversified

24 April 2009

Luanda, Angola, 24 April – The Angolan Minister for Industry, Joaquim David, said Thursday in Luanda that since 2006 the Angolan economy has shown signs of diversification outside of the oil sector.

The minister, who was speaking at the conference on the re-launch of manufacturing industry 2009/2012, noted that since 2006 the non-oil sectors had seen greater growth than the oil sector.

According to David, in 2007, the Gross Domestic Product of the non-oil sector posted growth of 21.5 percent, as compared to 20.4 percent for the oil and derivatives sector, and manufacturing industry was the sector that saw greatest growth levels, of 32.6 percent.

The Minister for Industry said he believed that the diversification that is planned would bring several gains, making it possible to reduce poverty and ensure food self-sufficiency, a competitive replacement of imports with consequent improvement of the balance of trade and balance of public finances, by widening the tax base.

He noted that the conference had not just set targets or objectives, as most of the time had been spent on analysing the means required to execute the programme and deal with its financial aspects.

According to the minister, special attention will be given to the quality and certification of Angolan products so that a replacement of imports does not mean a loss of quality and so that the products can also compete on the international market. (macauhub)