Angola: Business Sales Ensure Efficiency - Minister

Luanda — The Minister of State for Economic Coordination Manuel Nunes Júnior Thursday in Luanda acknowledged existing transparency in the privatisation programme, noting that the process is meant to increase the efficiency and competitiveness of national companies.

Manuel Nunes Júnior, who was speaking at the opening of the Methodological Seminar of the privatisation programme, said that the Executive wants to achieve success in the privatisation process of assets.

He said that the Executive intends to strengthen the private sector in Angola, as part of promotion of growth of the national economy. Turning the private sector into the true "engine" of Angola's economy, according to the minister, is one of the main goals, with a view to strengthening the private business class in the creation of the largest number of jobs in the country.

"A strong and sustained market economy cannot be attained without the strong and competitive private sector," noted Manuel Nunes, who is also the Coordinator of the National Inter-ministerial Commission for the Implementation of the Privatisation Programme. The ongoing privatisation process covers 195 companies, such as the finance, telecommunications, mining, agriculture, industry, among others. This year, the government foresees to privatise 80 companies - 91 by 2020, 20 (2021) and four (2022). The list includes national reference companies, such as Sonangol group and units of the Special Economy Zone (ZEE) Luanda / Bengo. Representatives from international bodies, such as the International Finance Corporation (IFC), attached to the World Bank, the financial sector, consultants, business associations, chambers of commerce are attending this event, due to end Friday.

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