The government of Angola has made official the extinction of the National Private Investment Agency (ANIP), which is replaced by the new Agency for Investment Promotion and Exports of Angola (Apiex), according to a presidential decree issued last week.
The decision is based on the new Private Investment Law, approved in July, through which ANIP now has the task of promoting private investment abroad, leaving its previous duties of definition, analysis and handling of investments in the hands of sector departments.
The presidential decree that brings an end to ANIP determines, according to Portuguese news agency Lusa, the transfer of all assets and liabilities to the new Apiex.
ANIP ensured the management and negotiation of private investment in Angola, dealing with processes, validating incentives and signing contracts.
The new Private Investment Law in Angola, approved on 22 July by the National Assembly, offers more incentives to private investors based on the size of the Angolan stake in each project. (macauhub/AO)