Govt to invest USD 300 million to boost commercial activity along the Lobito Corridor

     Economy              
  • Luanda • Wednesday, 17 July de 2024 | 18h51
A Lobito Corridor infrastructure, the  Benguela Railway.
A Lobito Corridor infrastructure, the Benguela Railway.
ANGOP

Luena – The government plans to invest three hundred million dollars, starting this year, to build projects and boost commercial activity along the Lobito Corridor, as part of “Diversifica Mais” project, with emphasis on the border region of Luau, in the province of Moxico.

'Diversifica Mais' is a project created in March this year, financed by the World Bank (WB), and supervised by the Ministry of Planning to be implemented over a six-year period (2024-2029), with greater incidence along the Lobito Corridor, which covers the provinces of Benguela, Huambo, Bié and Moxico.

Speaking to the Press, at the end of a meeting with the vice-governor of Moxico, for the economic and social sector, Víctor da Silva, the spokesperson for the Central Technical Unit for the implementation of the project, Gonçalo Leitão, said that in addition to the regions located along the Lobito Corridor, will also be implemented in the border region of Luvo, in the province of Zaire.

He reiterated that the process is underway to survey the quality of existing infrastructure in the border municipality of Luau (Moxico), to allow the necessary properties to be identified, in order to create the conditions that aim to stimulate commerce and private investment.

He added that this phase aims to raise possible cases of bureaucracy, in the creation or institution of companies along the Lobito Corridor.

After investigating the conditions in the two border areas (Luvo and Luau), based on the information collected, a report and action plan will be drawn up and submitted, in line with the government of the respective provinces, to the Ministry of Planning and the Bank Worldwide.

On the occasion, the deputy governor of Moxico for the Political, Economic and Social sphere, Victor da Silva, praised the project, as in addition to creating jobs, he understands that it will improve infrastructure and boost commercial exchange in this region.

The municipality of Luau is more than 360 kilometers east of the city of Luena, capital of the province of Moxico.

From an economic point of view, it is strategic as it has an International Airport 'General Sapilinha Sambalanga' in addition to being connected by the National Road - 250, whose rehabilitation works are underway, and may also gain a Logistics Platform in the near future. LTY/TC/YD/DOJ





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