China is biggest foreign investor in Angola in 1st semester

30 July 2012

China is at the top of the list of countries with private investment contracts signed in the first half of the year in Angola, mainly in sectors such as industry, telecommunications, and construction, the president of the National Agency for Private Investment (ANIP) said in Luanda Friday.

Maria Luísa Abrantes, who was speaking at a ceremony to sign five contracts said that China was no longer a “big” service provider and equipment exporter and had now become an investor in priority sectors of the Angolan economy.

“We now have Chinese businesspeople that bring knowledge and who intend to develop the industrial sector using modern technology,” said Abrantes cited by Angolan newspaper Jornal de Angola.

The president of ANIP said that overall investment in the first half had totalled 100 billion kwanzas (US$1.045 billion) and created 5,000 new jobs. She also noted that I 2010 foreign investment had totalled 240 billion kwanzas (US$2.510 billion).

After China the biggest investors in Angola are Germany, Spain, and Portugal.

The president of ANIP also said that Luanda continued to take on most private investment, but noted that some investment was now being channelled into provinces such as Kwanza Sul and Kwanza Norte, Huambo, Huíla, Zaire, and Cabinda. (macauhub)