Angola continues to attract foreign and private investment

23 September 2011

Luanda, Angola, 23 Sept – Angola is one of the four African countries that, following the world financial crisis, has managed to attract foreign and private investments of over US$3 billion, the coordinator of the country’s National Agency for Private Investment (ANIP) plans soon to set up a technological platform to attract more national and said Thursday in Luanda.

According to Aguinaldo Jaime, coordinator of the agency, who cited the latest report of the United Nations Conference on Trade and Development (UNCTAD), the other three countries were Libya, Nigeria and Egypt.

Speaking about the “Role and importance of Foreign Investment in the country’s industrialisation process,” as part of the technical and scientific days of the Eduardo dos Santos Foundation, he said that, in the last few years, manufacturing industry in Angola, particularly non-mining investments, had been a focus of private investors.

In 2007, manufacturing industry accounted for 55.24 percent of all private investment, outside of the mining sector. In 2008, the percentage was 55.7 percent, accounting for US$676 million in resources applied and the next year this fell to 45.54 percent, but there was a rise in terms of value, with resources totalling US$843 million.

Last year, the percentage fell even further, to 32.15 percent, but despite this the investors’ focus remained on manufacturing industry which, “has a very relevant presence in the process of private investment.”

According to Jaime, investment in Luanda was predominant as compared to remaining provinces, ad last year investment in Luanda by value accounted for 67.29 percent of the total, which was a similar percentage to that of the first quarter of this year.

Benguela province was the location for investments of around 7.13 percent of the total and this year figures point to 6.49 percent, whilst Kwanza Sul province garnered 6.56 percent, Uíge took 4.73 percent and Bengo 2.59 percent. (macauhub)