Angolan Finance Minister seeks to attract private companies from China

20 December 2019

Angola’s Finance Minister, Vera Daves, has invited private companies from China to join the “new era of the Angolan economy” to help the country to explore its potential in agriculture, fishing, mining resources and tourism, in an interview with the China Daily newspaper.

The minister said there was enormous untapped potential in Angola and added that with China’s technologies and knowledge “there is the possibility of the two countries extending cooperation to the private sector and get benefits of mutual advantage.”

Vera Daves noted that Angola had decided to privatise 195 state companies as part of moves for greater involvement of the private sector in the process of development and sustainability of the Angolan economy.

“We are hoping for active participation of Chinese investors to acquire some of those companies and help us to develop other sectors,” the minister said, noting that “this will help diversify the economy and transform Angola into a productive country that exports non-oil products.”

In the interview given to the China Daily, Daves said that China had enough experience to “help African countries to diversify their economies and overcome the variety of problems they still face.

“The economies of African countries have the same scenario: they are not diversified, they have a young unqualified workforce, many natural resources to explore and insecurity in almost all the basic services, such as electricity, water and telecommunications,” the minister said. (macauhub)