The Angolan government plans to spend over 25 billion kwanzas (US$259 million) on building and refurbishing transport and power and water distribution infrastructure in the 2013-17 period, the Economy Minister said in Luanda.
During the first Business Forum of the LIDE Angola business association, held recently in the Angolan capital, Abraão Gourgel noted that these investments would support economic diversification, which is one of the government’s priorities for the next few years.
He added that as part of this project priority had been placed on sectors such as food, agro-industry, industry, geology and mining, and oil.
Figures presented at the meeting showed that the Angolan economy has a low level of industrialisation, is limited in terms of knowledge and that the small companies involved in the sector are at a disadvantage in relation to their foreign counterparts.
The former minister for Oil and Industry and current advisor to the President, Albina Assis, said it was necessary to focus on creating development banks so they can support businesspeople who plan to invest in the industrial sector. (macauhub)