Angola: Aipex and Singapore's Sce Sign Memo

Luanda — The Angolan Private Investment and Export Promotion Agency (AIPEX) and the Singapore Cooperation Enterprise (SCE) signed this Tuesday an memorandum of understanding, within the scope of strengthening cooperation between Angola and Singapore.

The signatories of the memorandum, which took place in virtual format, were the chairman of the Board of Directors of AIPEX, António Henriques da Silva, and the Executive Director of SCE, Kong Wy Mun.

During the ceremony, the AIPEX CEO announced the ongoing privatization programme in Angola, especially of some state assets in sectors of the economy, such as banking, insurance, industry, commerce and telecommunications.

He reaffirmed AIPEX's commitment to doing everything to put the memorandum into operation in order to materialize the objectives assumed by both parties.

António Henriques da Silva considered that the memorandum of understanding is part of the concrete actions that the Angolan Executive has been developing to diversify the economy and encourage national production, as well as increasing exports and reducing imports.

"The goal is to improve the economy, through the diversification of its productive chain, based on a growth model led by the private sector", he explained.

According to the AIPEX C.E.O, the areas of agriculture, industry, infrastructure, transport and tourism are included in the priorities of the memo.

The expectation of AIPEX, he said, is that the investment, know-how and experience of Singapore will significantly contribute to the diversification process of the Angolan economy.

To fulfill the actions planned between the two institutions, revealed António Henriques da Silva, an Angola/Singapore business forum is expected to be held soon.

"The partnership with SCE will allow AIPEX to find faster ways of adopting mechanisms to create a better business environment", he explained.

The Angolan ambassador to Singapore, Daniel António Rosa, stressed that Angola offers huge opportunities for Singapore investors and the embassy will support the materialization of the memorandum.

The Singapore Cooperation Enterprise (SCE) has a mission to promote and facilitate cooperation between the public and private sectors and to share experience of Singapore's national development.

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