4 December 2018

Angola Open to Norwegian Investment

Luanda — Angolan authorities Monday in Luanda expressed availability to remain open to Norway's investments in the country aimed at diversifying the economy and promote a fairer and more developed society.

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Participants in Angola/Norway Forum

This was discussed at Angola/Norway Business Forum attended by Norway's Prime Minister, Erna Solberg, and Angolan Minister of State for Economic and Social Development, Manuel José Nunes Júnior.

The Minister of Mineral Resources and Petroleum, Diamantino Pedro Azevedo, mentioned the commitments to transparency, stability, confidence and combat impunity and corruption, as crucial for private investments.

He spoke of legal measures to speedup and re-organise the oil market, through the approval of laws such as those on gas, withdraw the concessionary function of SONANGOL, as well as the privatisation of 54 companies linked to the national oil firm.

The official noted that the refining strategy includes continue building a refinery in Lobito and another one in Cabinda as well as improve the production of the Luanda refinery under the petrochemical industry.

The official also announced the bidding of several blocks by 2019, as well as the training of Angolan staff at all levels.

The CEO of Investment Promotion and Export Agency (AIPEX), Licínio Contreiras, who was speaking at the meeting, spoke of the advantages of investing in Angola.

He mentioned the guarantees like those of a market of 300 million consumers of inhabitants mainly from 15 countries of the Southern African Development Community (SADC).

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