Angola explains new private investment law to Portuguese businesspeople

17 June 2011

Luanda, Angola, 17 June – The coordinator of the Commission for Restructuring of the Angolan National Agency for Private Investment (ANIP), Aguinaldo Jaime, is due in Lisbon on 4 July to explain the new Angolan private investment law to Portuguese businesspeople, the Portugal-Angola Chamber of Commerce and Industry (CCIPA) said.

“The new law (…) aims to attract private investment of one million dollars or more, by offering more attractive fiscal incentives and benefits that vary according to the economic, financial and social impact of each project on the Angolan economy,” the chamber’s statement said.

With the changes introduced in the new law, the system of automatic fiscal incentives has been given up, which dealt with both small and large investments in a similar way, without taking into account the impact of the project on Angola’s development, the document said.

The new Private Investment Law was approved on 20 April in a plenary session of Angola’s National Assembly. (macauhub)