President João Lourenço declares Angola open to foreign investment

26 September 2019

Angola is now open to the world and to foreign investment in all areas of its economy, the President of the Republic said, speaking at the 74th session of the United Nations General Assembly, which is taking place in New York, according to the Angop news agency.

“About 150 companies and public assets from different sectors of the economy including oil are being privatised, and we have launched an ambitious plan for the construction and rehabilitation of water and energy production and distribution infrastructure, the construction of hospitals and schools, repair of secondary and tertiary roads and others that will cover all 164 municipalities in the country, with the budget already secured,” said Lourenço.

Speaking for the second time at the United Nations headquarters, as President of Angola, Lourenço highlighted ongoing reforms that aim to build a real democratic rule of law.

“They also aim to combat corruption and impunity, to promote a culture of responsibility and accountability by civil servants, to create a business environment that is more attractive to domestic and foreign private investment and thus to increase domestic production of goods and services, reduce imports of basic necessities, increase the range and quantity of exportable goods and increase jobs,” he said.

Angola was admitted to the United Nations in December 1976, becoming the 148th member of the organization whose main organs are the General Assembly, the Security Council, the Economic and Social Council, the Trusteeship Council, the International Court of Justice and the Secretariat. (Macauhub)