Angola identifies 27 priority countries for attracting investment

22 July 2019

Angola’s Private Investment and Export Promotion Agency (AIPEX) has identified 27 countries as priorities for implementing a strategy to attract investment, director Lello Francisco said on Friday in Luanda.

During a roundtable discussion on “Angola-Turkey Strategic Cooperation” promoted by the Ministry of Public Administration, Labour and Social Security and the National School of Public Administration and Policy, the director mentioned, in addition to Turkey, South Africa, Germany, Argentina, Australia, Brazil, China, South Korea, Spain, the United States, France, India, Italy, Japan, Poland, Portugal, Russia, the Netherlands, the United Kingdom, Singapore and Uruguay, to name but a few.

Lello Francisco, quoted by the Jornal de Angola daily newspaper, said the list was adopted based on established criteria, in order of importance, of technological capacity, capital and investments, taking int consideration the interest of these countries in investments in Africa.

The investment programme in Turkey takes into account the country’s textile industry experience, said the director, mentioning his agency’s “concrete actions” to boost the export of marble and other ornamental stones to that country.

Lello Francisco said that, despite some progress, the trade relationship between Angola and Turkey “is still unequal,” with Luanda missing in an unfavourable position as it buys more than it sells to Ankara, and Aipex’s objective is to reverse this situation, which reflects the poorly diversified Angolan economy, in which more than 95% of exports are of crude oil. (Macauhub)