France is the third largest investor in Angola

5 November 2014

Foreign direct investment from France in Angola totals over 10 billion euros and France is the country’s third biggest supplier, the Angolan Foreign minister, Georges Chikoti said Tuesday in Luanda.

While receiving a delegation of about 60 French businessmen, visiting Angola in search of business opportunities, the minister also said that France is the third largest investor in Angola, and oil company Total is a good example of foreign investment .

Chikoti recalled the adoption by the government of the new Private Investment Law that, in addition to reducing red tape and facilitating the legal process, offers a number of guarantees to private investors, such as repatriation of capital, tax incentives, equal treatment between of Angolan and foreign nationals and investment protection.

The minister also said the government of Angola prioritised the revitalisation of domestic industry as a whole, which has resulted in creation of the Luanda-Bengo Special Economic Zone (EEZ) and others that will be created in the short and medium term in other provinces.

The visit by the French business delegation to Angola follows a visit by Angola’s President José Eduardo dos Santos to France, during which the two countries agreed to increase cooperation. (macauhub/AO)