Angola: Ambassador to Portugal Encourages Private Investment

Lisbon — Angola's ambassador to Portugal, Carlos Alberto Fonseca, Tuesday in Lisbon encouraged private investment in Angola and highlighted the conditions created by the Angolan Government for economic growth.

The diplomat who was speaking during the celebrations of the 43 years of national independence, marked on November 11, added that the opening to private investment aims, among other things, to generate more jobs and income.

According to the ambassador, these factors (employment and income) are being accompanied by measures of fiscal consolidation and reduction of the budget deficit.

As part of this commitment, in addition to increasing foreign direct investment, the Angolan Government also intends to reduce bureaucracy.

With these measures a considerable recovery is expected in the oil and non-oil sectors as part of a program agreed with the International Monetary Fund (IMF).

The Macro-Economic Stabilization Program that should allow the country to have more favorable access to the global financial markets.

To boost the national economy, Angola also has the laws of private investment and competition.

In this wake, the country provides for the institutionalization of competition authority and the implementation of a program of privatization of companies.

Ambassador Carlos Alberto Fonseca said that the cooperation ties between Angola and Portugal are historical and diversified.

The event was attended by Portuguese officials and MPs as well as Angolan diplomats accredited in Portugal.

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