Angola: Private Sector Invests Usd 1.7 Billion in Production

10 January 2024
Angola Press Agency (Luanda)

Luanda — Private investment in Angola amounted to around 1.7 billion US dollars, as a result of the implementation of 211 projects in various fields, in the last five years, in country.

According to the Chairman of the Board of Directors of the Private Investment and Export Promotion Agency (AIPEX), Lello Francisco, the respective projects are essentially linked to the productive sector, with emphasis on the manufacturing industry, agriculture, trade, among others.

Speaking at the first edition of 2024 of 'CaféCipra', promoted on Wednesday in Luanda by the Press Centre of the Presidency of the Republic of Angola (CIPRA), the manager said that the projects implemented are part of a universe of 699 investment intentions that AIPEX has received in five years.

With the implementation of all these investments, it is expected to create 70,000 direct jobs, according to the PCA.

He justified that the degree of implementation of the projects received is still below the desired level, mainly because of the Covid-19 pandemic, which caused the readjustment of several plans made by investors.

On the occasion, Lello Francisco said that AIPEX had the need to redirect itself to a new strategy, in order to be focused, essentially, on attracting investments aimed at the local production of goods for domestic consumption.

He acknowledged that the domestic market is still sustained on the basis of imports, but the country has the conditions to start producing locally what it needs, especially essential goods.

He pointed out the creation of a productive sector that depends, fundamentally on national raw materials, to boost local production, as well as to train entrepreneurs in order to face international markets with more quality, confidence and security.

Under the motto 'Impact of private investment on the productive sector', the first edition of 2024 of 'CaféCipra' was guided by the Minister of State for Economic Coordination, José de Lima Massano, and was also attended by the Minister of Agriculture and Forestry, António Francisco de Assis, and the Minister of Industry and Commerce, Rui Miguêns de Oliveira. SJ/QCB/AC/DOJ

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