Chinese companies in Qingdao evaluate investment opportunities in Angola

19 November 2018

Investments by Chinese business people in Angola are expected to increase in the near future, based on interest already expressed in exploring the country’s natural resources, said the deputy director of Municipal Culture and Administration of Qingdao.

Xu Jian, at the end of a Conference on Economic, Commercial and Cultural Cooperation between the Chinese city and Angola, organised by the Angola-China Chamber of Commerce (CAC), recognised the business opportunities that the country offers in various sectors and aid he was satisfied with Angola’s new economic cycle.

The Qingdao official travelled to Angola as part of a delegation of four companies from the city to assess the business environment in Angola, as well as to establish economic partnerships with Angolan business people.

In addition to these four companies, which are interested in investing in various sectors of economic activity, seven companies in Qingdao already operate in Angola, with an estimated investment of US$21 million in construction, electrical installations, trade and new technologies, according to Xu Jian .

During the conference, the China-Angola Chamber of Commerce and the city of Qingdao signed a cooperation agreement on training of Angolan and Chinese business people, with a view to improving knowledge of the Portuguese language, Mandarin and the legislation of both countries.

On that occasion, the president of the CAC, Arnaldo Calado, said the meeting was essentially focused on establishing investment partnerships between business people from the two countries, according to Angolan state news agency Angop.

Calado said that in the first quarter the CAC will attend a meeting of Chinese and Angolan business people scheduled to be held in China. (macauhub)