Portuguese companies should invest in Angolan agro-industrial sector, says PwC

30 May 2014

Direct investment by Portuguese companies in the agro-industrial sector “is a priority,” according to PricewaterhouseCoopers (PwC) in a report ordered by the Portuguese Industrial Association (AIP).

In the study, the PwC consultants said that “despite changes to the customs tariff list in 2014, Portugal should continue to focus on the agro-industrial sector, given growth in imports seen in Angola in the recent past and future outlook based on a rise in the population’s disposable income.”

“Direct investment in the agro-industrial sector has become a priority,” also due to Angola’s policies in terms of expanding the agro-food sector, PwC added, according to Portuguese news agency Lusa.

The report from PricewaterhouseCoopers analyses the Angolan economy and economic relations with the Southern African Development Community (SADC) and with the countries in the Community of Portuguese-speaking Countries (CPLP), concluding that “growth in non-oil sectors will be driven by increased consumption and by a rise in public investment in infrastructure.”

Alongside this, they said, “the agricultural sector will continue to benefit from expansion of infrastructure in rural areas and the sharp growth trend in construction should continue, bolstered by the Angolan government’s plans to build housing projects on a wide scale and to rebuild roads, bridges, silos and the railway system.”

At the presentation of the report, Manuel Lopes da Costa, of PwC, said that in the long term Mozambique “will be important for Portuguese companies to diversify their investments.”

“Portuguese companies prefer to deal with Angola, rather than with Mozambique because of an even greater delay in Mozambican infrastructure and because they can do better and faster deals, but Mozambique should not be neglected,” he said. (macauhub/PT/AO/MZ)