23 August 2018

Angola: President João Lourenço Invites German Entrepreneurs to Invest in Angola

Berlin — President João Lourenço last Wednesday in Berlin invited German entrepreneurs to invest more in Angola, chiefly in the iron industry, agriculture, cattle-breeding and in the maritime domain.

According to João Lourenço - who was speaking at the opening of the Seventh Angola/Germany Economic Forum, attended by about 300 angolan and German entrepreneurs - those are crucial sectors for Angola's sustainable economic development.

The Angolan Head of State, suggested also the need to create public/private partnerships for the construction of transnational roads that can link Angola with its neighbouring countries, with a view to helping Angola participate smoothly in the regional integration process, both in central and southern Africa.

The Angolan statesman also wants German participation in the rail sector, with special emphasis on the Benguela Railway (CFB).

He went on to highlight that currently in Angola there is a more favourable environment for private investment, having into account the new legislations approved with a view to re-launching the country's real economy.

João Lourenço stressed the fact that the new Angolan government has carried out a series of reforms in the judicial system with the aim of seriously tackling impunity and corruption, which were ills that hindered a good economic development dynamics in the whole country.

He seized the occasion to appease German entrepreneurs - many of whom already have investments in Angola - who are concerned about the Angolan government's outstanding debts towards businesspeople, acquired due to the economic crisis recorded in the past few years, having ascertained that such debts have been certified and have started to be paid.

João Lourenço also reminded that a couple ofyears ago, while he was National Defence minister, he signed in Germany agreements in the defence sector, which he now intends to see reinforced.

"We want co-operation with German entrepreneurs in this sector (defence), mainly to guarantee security in the Guinea Gulf region", said the Angolan President.

Angola and Germany established diplomatic relations in the year 1979. One the highpoints of this relationship was when the former Angolan President, José Eduardo dos Santos, visited Germany in 2009, accompanied by an important ministerial delegation.

In a reciprocal move, the German Chancellor, Angela Merkel, made an official visit to Angola in 2011, during which was signed a Common Intentions Declaration and set up the Bilateral Commission.

The Bilateral Commission has already held two sessions, namely in 2012 in Berlin and in 2016 in Luanda.


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