Angola: Foreign Investment to Fund 55% of 2050 Strategy

Luanda — Around 55 percent of the overall amount of 1 trillion kwanzas for the gradual implementation of the Long Term Strategy (ELP - Angola 2050) are expected to come from foreign direct investment, the minister of Economy and Planning, Mário Caetano João said Thursday.

Speaking to the press at the end of a consultation meeting with the media, as part of the Angola Long Term Strategy for 2050, the minister added that the State Budget (OGE) would fund 30 percent of the long-term project.

The oil sector and the commercial banking sector are expected to provide funding of around 11 and 10 percent, respectively.

According to the plan for gradual funding of the Angola-2050 strategy, funding is expected to come from different segments of the national economy, personal investments, small businesses and micro, small and medium-sized enterprises.

The ELP - Angola 2050 is the basic tool to draw up the National Development Plan (PDN), which presents the country's long-term strategic development option, drawn up based on a scenario analysis for national sector and territorial levels.

The strategy will bring an overall vision for Angola and its role at the international level over the next 27 years, presenting five priority development axes such as "a society that values and strengthens its human capital", "a diversified and prosperous economy", " and modern and competitive infrastructure".OPF/AC/Amp/jmc

AllAfrica publishes around 500 reports a day from more than 90 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.