Angolan Finance Minister Presents Privatization Programme in Davos

Davos — Angola's Finance minister, Vera Daves de Sousa, presented on Tuesday to international investors at the World Economic Forum in Davos, Switzerland, the country's Privatization Programme (Propriv), whose aim is to privatize 195 companies.

Vera Daves highlighted the contribution of the private sector to the promotion of the Privatization Programme and stressed that the government's economic focus is above mere financial ends.

The minister expressed the Angolan government's interest to change the paradigm of relying on crude oil by reinforcing investment in other sectors with strong potential, adding that the government is currently working to reduce red tape and other barriers to improve the business environment, having also invited businesspersons to invest in several sectors such as agribusiness, tourism, financial services and industrialization.

The ongoing measures in the framework of fiscal consolidation and the challenges facing macroeconomic policies were other issues addressed by the Angolan minister in Davos.

Daves also spoke of the introduction of the Value Added Tax (VAT) in the country, a policy expected to boost non-oil tax revenue and others related to the reduction of public expenditure, especially the new public procurement mechanisms.

Along with other policies implemented by the government, the official highlighted the importance of the judiciary and inspection bodies in fighting corruption in Angola.

The minister's agenda also includes bilateral meetings with VTB Capital, Norfund, the Bill and Melinda Gates Foundation and the German Chancellor's Economic Advisor, and counterparts from Switzerland and Nigeria.

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