Angola: VP Deems Angola Ideal to Overcome International Economic Crisis

Luanda — Angola is currently the ideal market, with a middle class, to overcome the international economic crisis, said last Sunday in Luanda the Angolan Vice President, Manuel Domingos Vicente.

The Vice President said so when delivering a speech at the opening session of the Third Conference of the Co-operation Initiative for the Atlantic Basin, organised by the National Private Investment Agency (ANIP) and the John Hopkins University, an event that will last two days.

"At a time in which there is the intention to overcome the international economic crisis, the potential investors search for good markets which, besides the indispensable stability and credibility of the institutions and financial market, have a considerable number of consumers with a good purchase power", he explained, stressing afterwards that Angola is this kind of market, with a growing middle class.

According to Manuel Vicente, Angola, with an estimated population of 20.1 million people, is the fastest way for the exit of exportation products of neighbouring countries without access to the sea, namely the Democratic Republic of the Congo and Zambia, through the Benguela Railway, which connects them with the Lobito Port, thus creating a market of 100 million consumers.

He also stressed that water will be the blue gold of the future and Angola is a rich country in terms of hydric resources, with about 12 per cent of Africa's hydric resources.

"This water has to be used in a sustainable and rational way, as a clean energy source, for irrigation of the fields and farming development, abstraction of water for the population, factories and agriculture", he said.

The Vice President also seized the occasion to announce that the Angolan Executive has given priority to a high number of investments in dams and the implementation of regional projects approved by the Southern Africa Development Community (SADC).

He went on saying that these premises have also been materialised with the sharing of hydroelectric resources with neighbouring countries, namely Namíbia and Botswana, through the development of the Cuvango-Okavango hydrographical basin, which is one of the world's greatest projects of biodiversity protection.

In order to make use of alternative energy, with the objective of protecting the environment, Angola has invested in solar and wind power, among others, Angola will invest about four billion kwanzas in projects turned to the protection of the Maiombe forest, in the northern Cabinda Province, to avoid desertification and protect it against climate changes, explained the Vice President.

The conference is being attended by former presidents of countries bathed by the Atlantic Ocean, ministers and researchers. It is aimed at discussing issues related to security, environment preservation and co-operation.

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