Disinvestment in civil construction in Angola due to the crisis has meant that Chinese companies present in the country have turned their attention to other sectors, such as agriculture, the vice president of the Angola-China Chamber of Commerce (CAC) said.
Francisco Chen, after noting that more than half of these companies do not have construction works, told Angolan daily newspaper O País that agriculture is one of the most promising sectors, “as the country has arable land, rivers and other conditions that are being created.”
The vice president of the CAC mentioned,as an example, an agricultural project that is being developed in Chicala-Cholohanga municipality, Huambo province, in an area of 2,000 thousand hectares, with financing of US$15 million.
This project, currently in its initial phase, is being implemented by Jiangsu Jiangzhou Agricultural Science & Technology Development Co. which has already planted 800 hectares of maize, 200 of soybeans, 25 of rice and two of sisal, and the next phase, the date of which has yet to be announced, will be the livestock component.
In Malanje province, another company is investing in the cultivation of rice, cassava, maize and fruit, in an area of 1,000 hectares, with an investment of US$200 million.
“This same company has another project in Malanje, but focused on pig farming and meat processing. It will also be in an area of 1,000 hectares. The installation work will take five years and the investment may reach US$100 million,” he said.
Chen said that investment in agriculture is the fastest growing, giving the example of the installation, in Kwanza Sul province, of a mill for transforming cassava into flour.
The head of the Angola-China Chamber of Commerce pointed out that the process of setting up a company in the Single Window system is easier and added that the end of double taxation and the ease of setting up companies in Angola will bring more Chinese investments into the country. (macauhub)