Southern Africa: Angola Opens Investment Forum in Shanghai

Luanda — The Trade minister, Joffre Van-Dunem, inaugurated last Thursday in Shangai, China, an open debate space about investment in Angola, named "Fórum Invest-Angola", inserted in the second edition of the China International Import and Export (CIIE) trade fair.

The forum aims to hear, analyze and discuss the reasons why investors are still shyly channeling their finances to Angola, despite the huge potential in natural resources and the potential of consumers from the African continent. In the opening act of the forum, Joffre Van-Dunem announced that Angola has assumed in a practical and coherent way the application of measures that aim to create conditions of macroeconomic stability indispensable to the improvement of the business environment.

The minister said that in the "new Angola, the paradigm is that the private sector is the driving force of development, economic diversification, generating investments for productive transformation and the creation of jobs that improve the lives of all people." "We are facing a moment that requires concrete actions beyond speech, facts and not words", stressed the manager, adding that the Angolan Government is committed to the task of predictability and transfer of processes so that the private sector can develop the economy.

At the event, the Angolan ambassador to China, João Salvador dos Santos Neto, stressed that Angola is geographically well located, with a market of over 400 million consumers around it.

He also stressed that the transport infrastructure, namely ports, airports, railways, roads, which are being completed by the Government of Angola, will make the country a platform that will serve the economies of the sub-Saharan countries region with repercussions on the continental and international economy, as long as "we know how to use the advantages represented by the Lobito corridor". China is Angola's largest trading partner, and in Africa Angola is China's second largest partner. By 2018 over 50% of direct investment in the country was made by Chinese companies.

The minister of commerce is in charge of a delegation, which includes the secretary of State for Fisheries, administrators of public institutes, directors and technicians of different government departments and businesspeople seeking partnerships. The Invest-Angola Forum, which runs under the motto "United by a thriving private business sector and a developed Angolan society", is an organization of the Angola-China Chamber of Commerce. The China International Import Fair (Expo Shanghai 2019) will be held from 5 to 10 November in Shanghai.

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