China and Portugal top foreign investors in Angola

25 July 2019

China with 15 projects valued at US$175 million and Portugal with 12 projects valued at US$5.8 million were the main investors in Angola over the last 12 months, according to Licínio Vaz Contreiras, chairman of the Angolan Export Investment and Promotion Agency (Aipex).


Speaking at the launch ceremony of the project for the Administrative Political Centre (Ministries District), Aipex’s chairman said that from 26 June, 2018 to 30 June, 2019, 155 investment projects had been registered, worth a total of US$2.489 billion.


Vaz Contreiras also said that of the projects submitted to Aipex 74 are related to industry, 38 to trade, 21 to insurance and services, nine to agriculture, four to construction, among other areas, and that 38 are already in operation and 74 in the implementation phase.


The Private Investment Law sets out the benefits and facilities that the Angolan State grants to private investors and the criteria for access to them, as well as establishing investors’ rights, duties and guarantees.


Published in the Diário da República national bulletin on 25 June, 2018, the bill prioritises market segments that identify themselves as having the potential for import substitution or promotion and diversification of the economy, including exports. (Macauhub)