Angola guarantees "transparency and security" to private investors

Angola guarantees "transparency and security" to private investors

The President of the Republic, João Lourenço, announced on Tuesday, in Brazzaville, that Angola has created the necessary conditions for foreign investors to invest in the country, in a transparent and safe way.

According to the Angolan Head of State, who was speaking at the 5th "Investing in Africa" Forum (FIA5), the new scenario is the result of reforms undertaken by the Government in all sectors of the national economy and at all levels.

He explained that his government decided take actions, in a "practical and coherent way", with the aim of creating the necessary macroeconomic stability conditions in order to improve the business environment.

To this end, he said, Angola is implementing an economic stabilization program "with very encouraging results" in fiscal consolidation, reduction of the inflation rate and in the gradual normalization of the foreign exchange market. These, among with other indicators, contribute to improve the performance of the national economy.

He confirmed that this effort is being undertaken with the support of the World Bank (WB) and the International Monetary Fund (IMF) to help improve Angola's business environment and provide technical assistance for the privatization of around 200 companies and public assets.

"In light of these steps (...) we want to make it clear to investors (...) that the foundations are underway with regard to transparency, free competition and legal protection of their investments, so they can make safe investments in Angola", said the Angolan head of state.

He added that the Angolan market is open to private investment and offers advantages because of its privileged geographical location, fertile land, water resources and others resources which are still unexplored.

Following his speech at the opening session of the FIA5, President João Lourenço returned to Luanda, and for the rest of the event that ends Thursday, he should be represented by the Minister of Economy and Planning, Manuel Neto da Costa, according to a source from the Press Secretariat of the Presidency of the Republic.