China and Portugal lead foreign investment in Angola over the last 12 months

The Angolan Investment and Export Promotion Agency (AIPEX) announced on Tuesday that over the past twelve months 155 new private projects valued at US $ 1.5 million have appeared. China and Portugal are leading the investments.

According to the chairman of AIPEX's board, Licínio Vaz Contreiras, 64 projects were submitted by investors who live in Angola and 23 were mixed projects.

"And then there are two countries: China with 15 private investment projects worth $ 175 million (€ 162 million), followed by Portugal with 12 investment projects worth $ 5.8 million (€ 4.6 million)", he said today in Luanda.

Speaking during the presentation ceremony of the Luanda Administrative and Political Center project, he said that with the entry into force of the Private Investment Law (from June 26, 2018), industry, commerce, services and agriculture "are at the top of the investments".

From the 155 registered projects, "at this time, 38 are actually in place and in execution", and about US $ 778 million (€ 693 million) have been raised.

Licínio Vaz Contreiras was also "pleased" by the interest of African countries that want to invest in Angola, namely Eritrea, Kenya, Mozambique, Uganda, Namibia, Burundi, Madagascar and Ethiopia, which already have some projects in the country.