Private investment in Angola expected to create 41,000 jobs by 2017

10 March 2015

Thirty-six private investment projects created under the programme for acceleration of diversification of Angola’s economy, will create 41,000 direct jobs in the next three years, the Angolan Economy Minister said Monday in Luanda.

A single Japanese company in the textile sector, according to the Angolan minister, has ongoing recovery and expansion of three factories in Angola, in an investment of billions of dollars, which is considered an “accelerator” of the process of economic diversification.

The total private investment included in the programme for acceleration of economic diversification, with private projects already programmed along with other new ones, amounts to US$22.7 billion and involves seven groups considered to be a priority.

This is the case of agriculture, fisheries, oil and gas, geology and mining, tourism, transport and energy and water, and “projects in these areas will be treated as priority by the government,” said the Economy Minister.

In the process of diversification of the economy, according to figures submitted by the Minister, the weight of agriculture in Angola’s Gross Domestic Product grew between 2012 and 2014, from 7 percent to 12 percent, while the services sector increased from 22 percent to 27 percent in the same period.

At the Angola/Japan Business Forum, Koichi Yajima, of the Japan Bank for International Cooperation (JBIC), noted the state bank was open to financing investments in Angola, by Japanese investors in the agricultural sector. (macauhub/AO)