600 companies take part in the Angola/China Investment Forum

4 November 2016

About 600 companies from Angola and China are taking part on 7 and 8 November in Luanda, in the Angola/China investment forum, said the Director of the Technical Unit for Private Investment (UTIP), the promoter of the meeting.

Norberto Garcia told Angolan news agency Angop that the event results from bilateral economic cooperation and aims to create an enabling environment for economic cooperation and combine business strategies aimed at attracting investment for projects that need funding.

He said that with the forum, Angola will be the first country of the Community of Portuguese-SpeakingCountries (CPLP) to move ahead with the private partnerships that the Chinese government is proposing for Africa, particularly in Angola, leading Angolans and Chinese to intensify cooperation in private investment and consolidate the implementation of existing projects.

The Technical Unit for Private Investment (UTIP) of the President’s Civil House of the Republic of Angola has been around for 12 months, in which time it has approved 43 projects across the country attracting investment of US$9 billion.

The UTIP is a specialised technical service in charge of the preparation, evaluation and negotiation of private investment projects whose approval under the Private Investment Law and its regulations is the responsibility of the holder of executive power.

It is UTIP’s responsibility to receive and analyse investment proposals worth over US$10 million, or the equivalent in kwanzas. (macauhub)