Luanda - Delegations from the Angolan government and the European Union (EU) met in Luanda on Tuesday to analyze aspects related to the start of the implementation of the Sustainable Investment Facilitation Agreement (SIFA).
The first meeting of the Investment Facilitation Committee, which was held behind closed doors, focused, among other things, on the approval of the Committee's Action Plan and the appointment of the members of its Executive Secretariat.
In brief remarks at the opening of the meeting, the Minister of Planning, Victor Guilherme, said the meeting was 'a real opportunity to influence sustainable development between the parties, which represents the strengthening of the values of justice, equity and innovation in relations between the two.
The head of the European Union delegation in Angola, Rosário Pais, underlined the importance of the agreement, adding that the country is a fundamental partner for the organization, whose relationship continues to be based on common interests and shared values.
According to the EU representative, this is also supported by the reforms that the country has undertaken in order to increase investor confidence, a goal that will be reinforced by the agreement in question.
Pais noted the progress made in recent years between the parties in trade and other areas, adding that EU investment in Angola represents eight percent of the organization’s total for Africa.
He said the Sustainable Investment Facilitation Agreement is an important part of a broader European Union strategy to intensify cooperation with African countries through equal partnerships.
Our Africa-EU Global Gateway strategy, adopted in 2021, further deepens our cooperation, notably through the Lobito Corridor, an infrastructure with the potential to contribute significantly to economic diversification and job creation, especially for young people and women," he said.
SIFA agreement
Launched in September 2024, the SIFA is a facilitation-focused agreement between Angola and the EU aimed at stimulating foreign investment needed to achieve sustainable development goals.
It aims to create a more transparent, efficient and predictable business environment for investors in the country, promoting sustainable investment by EU companies in the national territory, according to the document.
It also commits to environmental protection, labor rights and the promotion of sectors with untapped potential, such as green energy, agro-food value chains, digital innovation, fisheries, logistics and critical raw materials.
The Investment Facilitation Committee is co-chaired by the Ministries of Planning and Industry and Trade and a member of the European Commission responsible for trade or their representatives.
Key features of the agreement include increased transparency of investment rules and greater stakeholder involvement. ACC/VC
