Angola officially sets up Private Investment and Export Promotion Agency

14 March 2018

Angola’s Private Investment and Export Promotion Agency (AIPEX) was formally created on Tuesday with the signing of a presidential order that also closed down the Technical Unit for Private Investment (UTIP), the Investment Promotion Agency (Apiex) and the Technical Units to Support Private Investment (UTAIP), according to official information.

A statement from the President’s Office announced said the new agency is the result of a need to accelerate and facilitate private investment in the country, as well as promote exports and the international business of business partnerships capable of increasing the competitiveness of the national economy, through a dynamic and appropriate institutional framework.

The assets, liabilities and staff of UTIP and Apiex have been transferred to the newly created Aipex, while the UTAIP staff have been taken on by their respective ministries in line with civil service admission rules.

The creation of Aipex, “a single body to promote investment and exports and to promote the international competitiveness of Angolan companies,” was approved at a Council of Ministers on 31 February. (macauhub)