Ministry of Industry of Angola approves investments of US$150 million in 2016

19 December 2016

The Ministry of Industry of Angola signed private investment contracts worth US$150 million since the beginning of the year, the Industry Minister, Bernarda Gonçalves Martins said in Luanda.

The minister, who was speaking at a signing ceremony for private investment contracts in the amount of US$33.3 million for the implementation of projects in the sub-sectors of beverages, construction and manufacturing, said that they are in accordance with the new policy on private investment and respond to the various objectives identified in the National Development Plan (NDP) 2013/2017.

The contracts – a total of eight – were signed with representatives of Purangol, Leek View and Coastline (drinks), Embalang and Reem Plastics (plastic), Karam (wood and plywood), Sika Portugal (construction materials) and Judona Africa (transformers).

Gonçalves Martins said that seven of these projects will be carried out in Luanda and one in Benguela.

“The contracts are intended to ensure the development of national production, the promotion of employment and qualifications of national labour, provide the effective supply of the domestic market and import substitution,” she said. (macauhub)