Angola plans to focus on private investments from China

11 October 2018

Angola wants to focus more on Chinese private investors and less on borrowing, Foreign Minister Manuel Augusto said on Wednesday in Beijing.

The minister, while praising China’s openness to cooperation with Angola and the importance of its financing, stressed that private investors can better participate in Angola’s development and economic growth process.

“What we want is for private Chinese investors to discover a place of opportunity in Angola and thus participate in the effort we have to make for the economic development of our country,” said Augusto, according to the Angop news agency.

He said that was the reason the President of the Republic, João Lourenço, had brought a message to China based on the measures being implemented to create a good business environment and attract Chinese investors.

Augusto noted that the Angolan Head of State has informed his Chinese counterparts of the economic measures being implemented by Angola, as well as the commitment that Angola will make better use of the financial facilities granted by China.

He also said that there is evidence from both sides (Angola and China) that the funds made available to bilateral cooperation could and should have been better used and should, given their size, “have been translated into more visible results.” (Macauhub)