Regulations are planned for Angola’s private investment law, which may be slightly readjusted, the head of the National Private Investment Agency (ANIP) said in Luanda.

Maria Luísa Abrantes indicated after a ceremony to sign 19 new investment contracts that only small changes would be introduced to coordinate the law with the regulations now being prepared.

“The current law is only three years old; it’s not normal to be constantly introducing changes in any law,” she added.

The 19 contracts signed on Tuesday involve a joint investment of US$92 million. One of the projects is for construction of a hotel, considered important by Abrantes, given the large number of businesspeople who travel to Angola.

That five-star Hotel Península will be built on Luanda’s Cabo Island. Company director Susana Fragata said it would have 130 rooms, one of them a presidential suite. Plans call for the building to be completed in 24 months. (macauhub/AO)