The Angolan government has created the AIPEX – Agency for Private Investment and Exports, a single body to promote investments and exports and the international competitiveness of Angolan companies, according to a statement issued following a meeting of the Council of Ministers held in Luanda on Wednesday.
The statement added that the new agency, as well as being the sole agency for promoting and encouraging exports, “becomes the only interlocutor both in interaction with the government and in relations with private investors.”
Last January the Angolan government announced it intended to create a Single Private Investment System, merging several state agencies that receive and process investment proposals to accelerate and simplify the processes, according to the “New Operational Framework for the Private Investment System,” a document prepared by the Technical Unit for Private Investment (UTIP).
The proposed model calls for merging UTIP – extinguishing the respective technical units that operate in provincial governments and ministries for investment projects of less than US$10 million – and the Agency for the Promotion of Private Investment and Exports (Apiex), which were recently created.
The statement also said that the Council of Ministers also assessed a proposed review of the Private Investment Law. (macauhub)