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Angola is the third largest destination for China’s overseas funding, with a total of US$16.556 billion in the period between 2000 and 2014, according to a study by the AidData research unit of William & Mary University in the United States.
Trade between China and the Portuguese-speaking countries totalled over US$78 billion between January and August 2017, according to official Chinese figures released by Forum Macau.
The China International Fund (CIF) will invest US$55.5 million in the construction of a thermal power plant to supply electricity to the cement plant it owns in Bom Jesus, outside Luanda, under a contract with Angola’s Technical Unit for Private Investment.
The Angolan government will submit to parliament a proposal for a competition law to bring an end to monopolies and other imperfections in the country’s market, the new Angolan president said on Monday in Luanda, cited by Angolan news agency Angop.
Angola posted a trade surplus of 1.686 trillion kwanzas (US$10 billion) in the first half of 2017, with exports amounting to 2.710 trillion and imports amounting to 1.024 trillion kwanzas, according to the National Statistics Institute (INE).
CEFC China Energy Company Limited has established a partnership with Portugal’s Associação Mutualista Montepio, owner of the Caixa Económica Montepio Geral group, for the insurance sector, Portuguese weekly Expresso reported.
The assets of the Angola Sovereign Fund were valued at US$5.05 billion as of 30 June, 2017, according to a recent statement announcing investments made in the second quarter.
A technical commission appointed by the Angolan government will assess the situation of three recovered textile factories and whose concessions to private companies were revoked under a joint dispatch from the ministers of the Economy, Industry and Finance.
The scientific research vessel Baía Farta is expected to arrive in Angola in 2018 from the Netherlands, where it is being built, the Angolan Minister of Fisheries and the Sea announced on Thursday in Luanda.
Angola’s oil output recorded a further drop in September, albeit of just 2,900 barrels per day, but widened the gap in relation to Nigeria, which remains the main oil producer in Africa, the Organisation of Petroleum Exporting Countries (OPEC) said.
Angola is the most difficult Portuguese-speaking country to conduct business, ranking 182nd among 190 countries, according to the “Doing Business 2017 – Equal Opportunities for All,” report published on Wednesday by the World Bank.
The Angolan government plans in the short term to withdraw the concession of land to agricultural owners who do not make use of it, said the President of the Republic, João Lourenço, in Huambo province on Wednesday.
Angola was one of the two Portuguese-speaking countries experiencing an economic recession in 2016, with GDP contracting 0.7%, but is expected to return to growth of 1.5% this year, according to the World Economic Outlook of the International Monetary Fund (IMF).
Entrepreneurs from Angola, Guangdong and Macau will discuss the potential of tripartite relations in trade and investment at the 22nd Macau International Trade Fair (MIF), the Macau Trade and Investment Promotion Institute (IPIM) said.
Angolan and Indian business people have set up the Angola-India Chamber of Commerce and Industry “in order to help improve the environment in which bilateral business is conducted,” with the inaugural session taking place on Monday in Luanda, according to Angolan news agency Angop.
The Dubai-based Shalina Healthcare group will invest US$16.2 million in Angola in the acquisition of Angolan company Africa Pharmacy, under a contract signed with the Technical Unit for Private Investment (UTIP), the Angolan press reported.
Angolan textile company Alassola has invoiced US$500,000 through the export of its first 15 containers to Portugal containing 156 tonnes of cotton thread, company chairman Tambwe Mukaz said recently.
The oil sector continues to be one of the main drivers of Angola’s socio-economic development, accounting for more than 70% of the West African nation’s Gross Domestic Product (GDP), said the Chief Executive of the US/Angola Chamber of Commerce (USACC).
Agir Huang, a motorcycle assembly company in Angola, has been able to survive the crisis that began with the sharp fall in oil prices, said its director-general, Luís Gourgel, adding that the “business is currently viable,” despite the oil price crisis in the country almost leading the company to shut down.
The China Unicom telecommunications group is awaiting authorisation to build the South Atlantic Inter-Link (SAIL) submarine cable receiving station in Fortaleza, the capital of the Brazilian state of Recife, according to Brazilian website tele.sintese.