Portuguese investments are welcome in Angola, says João Lourenço

19 September 2018

Portuguese direct investments in Angola “are welcome,” said on Tuesday in Luanda the Angolan President, who added that Portugal could play a leading role in the development of both countries.

Speaking before the start of a meeting with the Portuguese Prime Minister, António Costa, Lourenço stressed that investments in manufacturing based on raw materials and local materials, agriculture and agro-industry are fundamental for the domestic market and for Angolan exports.

“We welcome the implementation of Portuguese small and medium-sized companies in the Angolan market, within the idea in which they establish themselves in our country to produce wealth that results in important benefits for both,” said Lourenço.

The Angolan President encouraged Costa to increase Portuguese investors’ awareness of the challenge by “creating facilities through credit lines that would help them do business in Angola,” and stressed that on the Angolan side the government is working to create a safe and attractive business environment.

“This business environment will stop investors from facing obstructions resulting from overly bureaucratic procedures to establish a business in Angola,” he said.

Lourenço also said that the agreements to be signed between the two countries, with a focus on the 2018-2022 Strategic Cooperation Programme and the Convention to eliminate Double Taxation and prevent tax evasion and avoidance, “will certainly give solidity and substance,” to Costa’s visit.

The Portuguese prime minister concluded an official two-day visit to Angola on Tuesday. (macauhub)