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Representatives from the eight Portuguese-speaking member countries of Forum Macau will travel to Macau in search of Chinese partners and investments at the International Forum on Investment and Infrastructure Construction (IICF), on 1 and 2 June.
Angolan diamond production is expected to increase from 9 million to 20 million carats per year with the start of the Luaxe concession, said the President of Angolan diamond company Endiama, Carlos Sumbula on Tuesday in Luanda.
Angolan milling unit Grandes Moagens de Angola (GMA), to be inaugurated on Friday, 26 May, has the capacity to supply 60% of the wheat flour imported by Angola in 2016, estimated at 500,000 tonnes, said the Minister of Industry, Bernarda da Silva.
Angolan satellite AngoSat may go into orbit later this year, Telecommunications and Information Technology Minister José Carvalho da Rocha said in Luanda.
Publicly-owned company Recredit will support Angolan banks in recovering bad loans, said the country’s finance minister, while presenting the new institution to public and private entities in the Angolan financial sector.
The installation of the submarine fibre optic cable that will connect Angola to Brazil is expected to be completed in 2018, a project estimated to cost US$170 million, the chairman of Angola Cables said recently in Luanda.
More than 500 hotel establishments in Angola are in a state of technical bankruptcy, and the businesses may close in the short term, according to data from the Association of Hotels and Resorts of Angola.
A visit by the President of Mozambique to the Netherlands led to some deals, the largest related to a US$7 billion investment by Shell to produce diesel from natural gas, the Mozambican press reported.
Nearly 900 products from 91 micro, small and medium-sized companies currently brandish the “Made in Angola” seal, a government project launched about five years ago to encourage consumption of Angolan products, according to official figures for May.
Angolan bioenergy company Biocom last week started the process of transmission of electricity produced through biomass processing to the country’s electricity grid, managed by state-owned Empresa Nacional de Transporte de Electricidade (ENTE), said the company’s production director.
Angola’s Debt and Securities Exchange (Bodiva) plans to launch bond and share trading this year, said the chairman of the board of directors, António Furtado, presenting the report and accounts for 2016.
The Angolan government will launch by the end of June the Strategic State Food Reserve to guarantee the supply of some food products “for a certain period of time”, according to a joint statement from the Ministries of Economy, Finance, Agriculture and Trade.
The proposal for Angola’s Customs Tariff 2017 is under public consultation until the end of May, after which it will be submitted for the consideration of the Minister of Finance, an administrator of the General Tax Administration said in Luanda.
Trade between China and Portuguese-speaking countries reached US$23.97 billion in the first quarter of the year, an increase of 43.33% compared to US$ 16.72 billion in the same period of 2-16, according to figures from Forum Macau.
The first of three groups of government officials from Portuguese-speaking countries this year began a two-week training course in Macau on Monday given by the Macau Government Tourist Office (MGTO), according to official information.
Angola’s state oil company Sonangol has cancelled public tenders for blocks in the onshore areas of the Kwanza and Lower Congo basins due to changes in the assumptions underlying its launch, Sonangol said in a statement.
Angola’s diplomatic and consular network will be reduced from September “in order to save human, technical and financial resources,” according to a presidential dispatch that creates an ad-hoc commission to study and propose the reduction and resizing of Angola’s representation abroad.
An economic feasibility study for the production of cotton in Angola’s Malange province is being carried out by Japan as part of its cooperation with Angola, the Japanese ambassador in Angola, Hironori Sawada, said on Monday in the city of Malange.
Oil exploration company Cobalt International Energy (CEI) has filed an arbitration suit with the International Chamber of Commerce demanding more than US$2 billion from Angola’s state oil company Sonangol for breach of agreement.
China’s investments in Africa accounted for about a third of total foreign direct investment (FDI) and jobs created by these projects on the continent in 2016, according to a study by consultancy EY (Ernst & Young).