Angolan president calls for increased private investment

31 July 2019

The Angolan President on Tuesday in Luanda called for investment in the economy to increase in order to improve the supply of jobs, especially in the private sector, as he addressed the opening session of the Business Forum.

João Lourenço acknowledged that the unemployment rate had risen as a result of the recession in recent years, “a problem that will be solved only through more investment, especially from the private sector,” according to the Angop news agency.

Data from the National Statistics Institute (INE) for 2018 shows that the unemployment rate in Angola stands at 28.8% (about 3 million people) and mostly affects young people of both sexes.

To combat unemployment, the government is investing in the creation of 250,000 jobs in different areas over the next three years under the Action Plan for the Promotion of Employability (PAPE).

The programme, whose execution value is estimated at 21 billion kwanzas, was recently approved by the President of the Republic, in Decree 113/19, of 16 July.

“Angola could grow again economically, create more jobs and provide Angolans, particularly youth, with better incomes and thereby increase their well-being and that of their families through investment alone,” he said.

The President urged entrepreneurs to invest more in livestock, fisheries, tourism and other sectors of the economy, and recalled the removal or reduction of constraints on private investment, as well as measures to attract investment. (Macauhub)