Private investment in Angola totals over US$1.2 billion in first half

31 August 2010

Luanda, Angola, 31 Aug – Investment in Angola’s private sector in the first half totalled US$1.255 billion, almost three times the US$450 million invested in the same period of 2009, a spokesperson said in Luanda Monday.

Aguinaldo Jaime, coordinator of the management commission of the National Private Investment Agency (ANIP), also said that 64 percent of that figure was private Angolan capital and 32 percent of foreign origin, which was applied entirely to manufacturing industry.

On speaking at the Angola/Japan Forum for Investment and Business, which aimed to promote business partnerships between the two countries, Jaime said that the investments had led to more than 11,000 jobs being created outside the oil sector.

“Nowadays business owners are investing in industry, leaving the agricultural sector behind and thus we would like to invite them to invest in agriculture,” said Jaime noting that he had just signed an agreement for the recovery of the Textang II textile factory, which would drive cotton production in Angola.

The Angola/Japan business forum was held as part of a visit by a delegation of Japanese officials and businesspeople, which has been in Angola since Sunday and is due to return to Japan Tuesday. (macauhub)