6 February 2018

Angola: Government Set to Meet With Industry Sector

Luanda — Ministries of Economy and Planning and Industry will promote Thursday a consultation meeting with business class of the manufacturing industry.

The meeting is intended to ensure joint effort to make the sector one of the biggest contributors to growth of Gross Domestic Product (GDP) and boost exports.

Angolan industry contributes with four per cent to GDP. Before independence, the share of this sector reached 20 percent.

The meeting is taking place under the Support to Production, Export Diversification and Import Substitution Programme (PRODESI).

The event happens at a time when the sector's growth projections points to 1.8 percent rate this year, after the negative performance of 0.7 percent in 2017.

The start-up in 2017 of 18 new manufacturing plants will support the sector's 1.8 percent growth for 2018, according to report data of the State Budget, under debate at Specialty Committees of National Assembly.

The four percent drop to 0,7 in the manufacturing industry is owed to the ongoing economic crisis amid fall in oil revenues.

Manufacturing was among the sectors that most suffered the consequences of the foreign exchange market.

The impact was felt in terms of providing foreign exchange to meet the needs of the sector, with the import of equipment, raw materials and spare parts.

Although the country relies heavily on imports of the industrial goods, there are indicators of surplus in the beverage and cement sector.

The surplus results from the policies outlined and the investments made in these two sub-sectors of the Angolan industry.

As an example, in the cements, the country needs six million tons, whereas the installed capacity of the country's cement plants already exceeds eight million tons.

On the other hand, the beverage industry grows three percent a year, as a result of the investments, leading to about 14,000 direct and 45,000 indirect jobs.

The country has more than 40 beverage companies, such as water, soft drinks and beer.

The quantities produced meet the needs of the market, three billion liters per year.

Under the re-launch process of industrial activity in the country there are actions aimed to revive industrial development hubs of Viana and Bom Jesus (Luanda), Lucala (Cuanza Norte), Negage (Uíge), Caála (Huambo), Catumbela (Benguela) e Futila (Cabinda).

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