Russian businesspeople want to invest in Angola

27 March 2014

Russia plans to invest in agriculture and construction of industrial facilities in Angola’s Malanje province, the ambassador of the Russian Federation to Angola, Dimitri Lobach, said recently.

During a meeting with provincial governor Norberto dos Santos, to discuss issues related to development projects in the province, the ambassador gave assurances that Russian businesspeople were interested in investing in several sectors in the province.

Two days before, Ambassador Lobach announced that Russia would build a factory to assemble “Kamaz” trucks in Angola and another for rail cargo trucks.

After a meeting with the Angola vice president, Manuel Vicente, the ambassador noted that these two projects were still at the stage of carrying out economic viability studies.

Two-way trade between Angola and Russia in 2013 rose by US$37 million, and Lobach said that the amounts were insignificant “considering the history of economic, cultural and scientific cooperation between Angola and Russia.” (macauhub)