Investment proposals in Angola reach US$750 million in nine months

Between August 2018 and April last, Angola’s Private Investment and Export Promotion Agency (Aipex) received 118 investment proposals worth a total of US$750 million, director Sandra Dias dos Santos, said in Luanda.

Speaking on the sidelines of the conference cycle “Angola Shaping the Future – the Road to Diversification,” she noted that these results were due to the government’s economic diplomacy, as well as the agency’s work to attract foreign direct investment.

Dias dos Santos, quoted by daily newspaper Jornal de Angola, said that the projects, which make way for the creation of more than 7,000 jobs for Angolan nationals, are mainly concentrated in the manufacturing, trade and agricultural sectors.

The investments are largely from China, Portugal and Eritrea, with implementation already underway or planned mainly in Luanda and Bengo.

Figures presented at the end of March by the president of Aipex, Licínio Contreiras, showed that until that month, the institution had approved 93 projects, valued at US$650 million.

Contreiras recalled that the new law does not determine the value of the investment, nor does it prevent the transfer of dividends to the country of preference, does not require a partnership with Angolans and provides tax breaks and other benefits, such as access to credit. (Macauhub)