The Angolan Economy Minister last Friday in Luanda laid the first stone for construction of the business incubator of the National Institute to Support Small and Medium-Sized Companies in Angola, according to Angolan news agency Angop.

The facility will be built in the Luanda-Bengo Special Economic Area in five months and will operate at as workshop to prepare inexperienced businesspeople with technical and professional training over a period of two years.

The incubator will initially have capacity to houses two or three entrepreneurs with consolidated ideas of with projects for companies in the industrial sector, in each of five specific priority areas.

The unit will offer rooms for beneficiaries to set up their boards and administrative areas as well as a common area for all the new companies and a small warehouse.

The project, which includes meeting rooms for the different companies and a training and conference area, is expected to cost around 250 million kwanzas (US$3 million).

Minister Abraão Gourgel said that the project would support the establishment of micro, small and medium-sized enterprises in order to boost the process of diversification of the Angolan economy and thus reduce unemployment. (macauhub)