Angola creates conditions to attract more private investment

14 October 2015

The conditions for the revitalisation and intensification of actions to attract private investment and funding were established with the recent approval and publication of the legislation, the Secretary of state for the Economy said Tuesday in Luanda.

Laura Monteiro, who at the time was speaking at a seminar on private investment aimed at managers and staff of state central and local administration and public sector institutions, stressed that these conditions were aimed at both national and foreign investment.

“This investment is intended to support the growth of domestic production, replacing imports and increasing exports of higher value added products,” added the Secretary of State cited by Angolan news agency Angop.

Monteiro said the main features of the new private investment law and its regulations were the minimum required value for domestic investors of US$500,000 and US$1 million for foreign investors to gain access to incentives stipulated in the law, which favoured national investors. (macauhub/AO)