Seoul - Angolan President João Lourenço, expressed Tuesday, in Seoul, his interest in seeing manufacturing units from South Korean brands installed in Angola as a way of consolidating the economic partnership between the two countries.
The Angolan President made the statement at the opening of the first Business Forum between Angola and South Korea, which brought together public and private agents from both countries to better understand and assess the potential for strengthening economic and financial relations between them.
"We are very interested in seeing heavy machinery, automobile and electronics manufacturing units installed in our country, as part of the solid and lasting partnership that we want to build between our economies and our people", Lourenço said.
The head of state highlighted the fact that car brands, technological and telecommunications equipment from South Korea, among others, are highly sought after and consumed in Angola.
João Lourenço recognized Korea’s credentials in the most varied areas, but above all due to its rapid economic growth.
According to President João Lourenço, the Asian country is also recognized for its resilience and capacity for scientific innovation, which place it at a prominent level among the most developed nations.
In his speech, he highlighted the fact that Angola is one of the main emerging economies on the African continent, and is currently the fifth largest economy in Sub-Saharan Africa, with a mostly young population.
“Our country has followed its development path based on democratic principles, justice and social equity”, Lourenço said.
The Angolan president also highlighted the fact that the African nation has an open economy with enormous potential, which is why efforts are being made to consolidate a set of reforms to improve the business environment and encourage private investment in the Angolan economy.
In this context, he highlighted the fact that the private investment law, currently in force, grants freedom of movement of capital, formation of partnerships and access to tax benefits.
Lourenço said the country is moving forward with relevant investments in infrastructure to support economic activity, as is the case of the well-known Lobito Corridor and the construction of logistics platforms in various regions of the country.
The president explained that, to the north of the capital, Luanda, more specifically in the Barra do Dande region, a new free trade zone is being completed for the installation of manufacturing units for companies seeking a privileged base for the production of goods for domestic consumption or export.
“It is in the same area that Sonangol is building its ocean terminal, which will allow it to store around 580,000 cubic meters of refined products on land,” the president said.
President João Lourenço highlighted the fact that ports and airports are also being rehabilitated and modernized, and in the northernmost province of the country, Cabinda, the largest deep-water port is under construction to be completed by 2025.
Lourenço also announced that the new Luanda International Airport has already been opened and is also a modern infrastructure to serve citizens, the economy and investors.
VIC/SC/IZ/CF/AMP
