Chinese investments in Angola essential for country’s reconstruction and development

24 June 2010

Lisbon, Portugal, 24 June – The chairman of the Angolan Chamber of Commerce and Industry (CCIA) Wednesday in Lisbon noted the importance of China’s investments in Angola’s reconstruction and development efforts, where there are still “many opportunities” for business.

José Rodrigues Alentejo, who was speaking to an audience of businesspeople as part of the 16th Meeting for Economic and Trade Cooperation between China and the Portuguese-speaking Countries, which is to be held Wednesday and Thursday in the Portuguese capital, also said that it was necessary to continue to promote the organisation of and participation in, “forums, fairs, exhibitions and business missions,“ that, “above all will lead to setting up mutually advantageous partnerships.”

“I believe that this Macau Forum for business cooperation will continue to drive the dynamic of businesspeople in our countries so that, in partnership with the respective governments, we can make our economic space more competitive,” he said.

The representative of the CCIA noted that, “since the advent of peace in 2002,” his country had come to focus “decisively on diversification of the economy in order to reduce dependence on oil and diamonds and re-launch growth in sectors,” such as agriculture, livestock, fishing, manufacturing industry, hotels and tourism, amongst others.

“This means that there are many business and investment opportunities in Angola that businesspeople in this space should take advantage of in order to explore new businesses and strong partnerships,” he noted.

In the infrastructures sector, he noted, “construction and refurbishment is a process that continues in Angola,” and gave the specific example of the Angolan government rebuilding, “73,000 kilometres of primary, secondary and tertiary roads.”

According to the official, so far reconstruction of just, “around 5,300 kilometres,” had taken place and thus interested companies, “may find profitable business deals in this area.”

Alentejo also said that the Angolan government was focused on, “creating 12 industrial and agri-industrial hubs to provide facilities to sector investors,” Where it expects to “create 22,000 jobs in the 2009-2012 period.”

Angola is China’s second-largest Portuguese-speaking trading partner with trade of US$8.94 billion in the first four months of 2010, or 170 percent more than in the same period of 2009, according to the most recent figures from China’s Customs Service. (macauhub)