Angola intends to continue to develop with the support of China

9 November 2016

The Angolan Minister of Economy restated Angola’s desire to have the capital and intellectual, management and technological resources from China to promote the country’s development, while speaking at the closing session of the Angola-China Investment Forum.

This Forum, which on Monday and Tuesday in the Angolan capital, brought together over 450 Chinese businesspeople and many more Angolans, resulted in the signing of intent agreements and private investment projects valued at over US$1.2 billion.

Abraão Gourgel, quoted by Angolan news agency Angop, said infrastructure remained Angolan government’s priority, which has a greater participation of the private sector, including the foreign private sector, under certain conditions and with appropriate safeguards.

“The Angolan government will continue to that end, to ensure the necessary legal guarantees to private investors, and to apply the regulatory frameworks appropriate to the protection of national interests,” said the minister.

The Economy Minister stressed that the government has made every effort to mitigate the vulnerabilities caused by low oil prices in the international market, with structural reforms “to embrace a development model based on the country’s endogenous forces.”

Gourgel also said that this forum allowed the launch of a new era of economic and bilateral business relations between Angola and China, the “time of Chinese direct private investment in Angola,” as well as demonstrating the openness of of the Angolan State to foreign and institutional private investment and the political support that Angola gives to building mutually beneficial business partnerships. (macauhub)