Chinese companies invest in construction in Angola

26 September 2017

Ten Chinese companies have invested more than US$11 million in the construction sector in Angola in the past 12 months, said the director of the Technical Unit for Support to Private Investment (UTAIP) of the Angolan Ministry of Construction.

Cláudio Rodrigues, who signed a private investment contract with China’s Jiangsu International Economic and Technical Cooperation Group on Friday, valued at US$1.58 million, said some of the companies had benefited from China’s credit line for implementation of public investment projects.

The director of UTAIP also said that the private investment contracts signed with several companies, mainly from China, are of great importance for the country’s building materials production chain.

Xu Bo, managing director of China’s Jiangsu International Economic and Technical Cooperation Group, told the Angop news agency that the investment is intended to strengthen the capacity and structure of the company, which has been operating in Angola for more than eight years in the manufacturing and sale of building materials.

The Private Investment Support Technical Units (UTAIP) are ministerial departments responsible for monitoring and inspection of the sector within the scope of private investment processes that have already been approved. (macauhub)