Angola’s ANIP approves US$1.8 billion in investments

5 May 2010

Luanda, Angola, 5 May – The Angolan National Agency for Private Investment (ANIP) last year approved overall investments totalling some US$1.8 billion, the agency’s operations director, Luís Domingos said Tuesday in Luanda.

According to Domingos, who was speaking on the sidelines of a forum on energy and infrastructure held in Luanda, the focus of foreign investors on the Angolan market had made it possible to approve 700 investment proposals in the areas of energy and infrastructure.

“The Angolan market is one of the most fertile in Africa. The levels of demand are considerable,” he said noting the efforts of the Angolan government in the rebuilding of road, rail and housing infrastructures.

Despite the significant interest by foreign entrepreneurs in carrying out projects in the country, Domingos said that there were still many business opportunities in many areas that could still be tapped.

Based on the government’s objectives, he said, ANIP has sought to approve and accompany the projects, taking into account the need to create jobs, increase capital and improve the balance of payments.

The preference of foreign investors continues to focus on Angola’s coastal areas, particularly in the industrial and construction sectors.

The forum on energy and infrastructure aims to provide indicators for attracting foreign investors and to discuss investment opportunities in the construction, energy, oil and mining sectors. (macauhub)