Angolan investment agency receives 62 proposals from January to May

2 July 2019

Angola’s Private Investment and Export Promotion Agency (Aipex) received 62 investment proposals in the period from January to May, which was nine proposals fewer than those registered in the same period of 2018, the institution said.

The agency also reported that between August 2018 and May this year it received 133 private investment proposals valued at a total of US$823 million.

Of this total, 29 proposals have already been executed, with the creation of 1,690 jobs, and were mainly installed in the provinces of Luanda, Bengo, Benguela and Malanje.

The Mercado newspaper, which published the information, reported that the investment proposals came from 21 countries, in addition to other national ones and from a variety of institutions, including banks and investment funds.

For investment purposes Angola is split into four zones – from “A” to “D” – with tax breaks becoming bigger by alphabetical order depending on the intended geographical location of the project.

Zone “A” covers the provinces of Benguela, Huíla and Lobito, and Zone “B”, the provinces of Bié, Bengo, Kwanza Norte, Kwanza Sul, Huambo, Namibe and other provinces and the remaining municipalities of the provinces of Benguela and Huíla.

Zone “C” includes the provinces of Kwando Kubango, Cunene, Lunda Norte, Lunda Sul, Malanje, Moxico, Uíge and Zaire and Zone “D” is reserved for the province of Cabinda, an enclave between the Republic of Congo and the Democratic Republic of Congo. (Macauhub)