Chinese entrepreneurs expected to invest US$1.2 billion in Angola

9 November 2016

Chinese entrepreneurs are expected to invest at least US$1.2 billion in agricultural, fishing, mining, industrial and construction projects in Angola, says the final statement of the Angola-China Investment Forum, held on 7 and 8 November in Luanda.

The Forum was organised by the Technical Unit for Private Investment (UTIP) of the Civil House of the President of the Republic of Angola in partnership with the Chinese Ministry of Commerce.

The Director of the UTIP, Norberto Garcia, reading of the statement, said that the figure is the result of the contracts signed, in terms of concrete proposals, between Angolan and Chinese businesspeople, who showed interest in investing in various sectors of economic activity in the country.

In addition to these contracts, he added, quoted by news agency Angop, it had also been possible to implement proposals and investment intentions in the order of US$2 billion.

Garcia said that these private investment intentions show that Angola is capable of attracting investors and added that the country would be able to launch all its projects, with the support of all investors.

The event, which was attended by over 1,000 investors, including Angolans and Chinese, aimed primarily to reflect on the implementation and acceleration of existing projects in the country, as well as signing new contracts to attract investment to Angola.

The closure of the Angola-China Investment Forum also included a visit to the Special Economic Zone (SEZ), where Chinese entrepreneurs have said they intend to invest in factories in that area. (macauhub)