The new Private Investment Law has created a non-bureaucratic system for approval and monitoring of investment implementation, through exclusive or coordinated involvement of ministerial departments, said Monday in Luanda the minister of State and Head of the Civil House of the President .
Edeltrudes Maurício da Costa said this in his opening speech at a seminar on private investment, stressing that this process would become even more simplified and expeditious, in response to some extent, to investors’ business plans as well as expediting the process of economic diversification.
He added that the national business sector deserved special treatment in order to make it stronger within the economic system, particularly in strategic sectors, as the new law opens up better opportunities and investment facilities.
“We are therefore confident that this law represents a new way to stimulate private investment, given that it establishes a legal regime that protects the main concerns of public and private institutions,” he said, cited by Angolan news agency Angop.
He noted that the implementation of this law consolidated the advantages and benefits of investing in the country and tax incentives offered, as well as political, social and legal stability due to the government’s efforts to create communication networks, airports, ports, provide improved energy and water, new roads and railways.
This new law regulates new tax incentives and benefits, the creation of mechanisms to facilitate capital mobility for payment the financial commitments of investors abroad, in line with the exchange rate system and its own legal regime. (macauhub/AO)