Madrid - The Angolan ambassador to the Kingdom of Spain Alfredo Dombe on Monday said that “Luanda-Bengo Special Economic Zone ” can attract several Spanish businessmen interested in investing in the country.
The 4,717.91-hectare Luanda-Bengo Special Economic Zone is an industrial hub located in the municipality of Viana.
Speaking to ANGOP, regarding the Gavi Global Vaccine Impact Conference - Vaccine Alliance, taking place in Madrid, from the 13th to the 15th of June, the diplomat added that Spain could help to leverage the Angolan economy, through private investment in different sectors.
In this regard, Alfredo Dombe encouraged the Angolan businessmen to further publicize the country's economic potential and show what the country has to offer in terms of resources, with a view to attracting Spanish investment.
As for bilateral cooperation, the diplomat said that the two countries are going through a good moment, after the signing, in Luanda, of several agreements, in the fields of trade, sport and political-diplomatic affairs.
Spain is the 17th largest economy in the world (in terms of GDP - 2021), and recent data (2022) indicate that the country is recording a resumption of GDP growth due to the control of the Covid-19 pandemic.
Its economy is fundamentally based on key sectors, such as industry, finance, services, technology, tourism and agriculture, areas in which Angola has been investing heavily over the last five years and which require more funding.
Available data indicate that, currently, agriculture's contribution to Spanish GDP is around 2.6 percent, employing 4 percent of the labour force (World Bank, latest data available).
The country regularly produces wheat, beetroot, sugar, barley, tomatoes, olives, citrus fruits, grapes and cork, being one of the world's largest producers of olive oil and the third in the world in wine production.
It also stands out in the production of oranges and strawberries, according to data from the Ministry of Agriculture.
Data from that institution show that land destined for organic cultivation represents 10.79 percent of total arable land, with 58,485 active operators in the sector (in production or distribution).
The industrial sector accounts for 20.4 percent of GDP and the workforce, with the manufacturing sector being the most important industry, as it contributes around 12 percent of GDP, according to World Bank data.
The renewable energy sector is also growing at a good pace, according to data from INE, which show that industrial production in Spain grew by around 2.4 percent throughout 2022.
The tertiary sector contributes 67.4 percent and employs 76 percent of the active population.
Tourism, meanwhile, represents Spain's biggest source of revenue, being its main source of income (despite its contribution to GDP falling from a pre-pandemic level of 12.4 percent in 2019 to 8 percent in 2021 - INE). FMA/SC/DOJ
