Angolan government collects suggestions for new import substitution programme

19 January 2018

The Angolan government will soon begin a process of consultation with the private business sector, in order to collect contributions for the success of the Programme to Support the Production, Diversification of Exports and Import Substitutions (Prodesi).

The programme, which was approved by the Economic Commission of the Council of Ministers, aims to diversify domestic production by promoting exports in non-oil sectors and that have import substitution potential.

The Minister of Economy and Planning, Pedro Luís da Fonseca, said at the end of the meeting that the programme is to be applied in the short, medium and long-term and will focus on areas such as food and agro-industry, mineral resources, natural gas, textiles, clothing and footwear, as well as tourism and leisure.

The announcement comes ten days after the President of the Republic met with business people, who expressed their concerns and put forward ideas to improve the business climate and speed up domestic production.

At the meeting, the business people asked for an urgent change of the Private Investment Law, to adapt it to the current situation and make it easier to attract foreign capital to basic infrastructure for development, according to Jornal de Angola.

Concerns include lack of energy and water, telecommunications and roads, shortages of foreign exchange for the purchase of raw materials abroad and high-interest rates, and called for even more incentives for entrepreneurs to create jobs in the most disadvantaged areas. (macauhub)