Angola: Private Investment Agency Announces Usd 850 Mln Worth Projects

Luanda — Some 123 private investment projects estimated at USD 850 million reached the Private Investments and Export Promotion Agency (AIPEX) from August 2018 - May 2019.

The data were released by AIPEX's CEO , Licínio Contreiras, while speaking to Angop on Monday.

He mentioned a total of 29, out of the aforementioned projects, as having been implemented, resulting in creation of 1690 jobs.

AIPEX explained that most projects were implemented in the provinces of Luanda, Bengo, Benguela and Malanje, with more than one private investment.

The eastern region provinces integrated in Zones C under the Private Investment Law - Lunda Norte and Sul, Moxico Cuando Cubango and Cunene - are said to be the least beneficiaries of private projects, but the law grants them more tax incentives.

Lícino Contreiras said that the difference between the registered project and the implemented one depends a lot on the costs of the context of our country, as the business environment still has time and an additional cost.

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