Luanda – Angolan President João Lourenço on Saturday, in Beijing, considered the occasion as favourable to deepen dialogue between Angola and China and exchange experiences on investment opportunities in the two countries.
The statesman made these references at the opening of the Angola and China business forum on oil, gas, mineral resources and agriculture.
In his intervention at the event, he considered his state visit to China to be of great importance for deepening and consolidating ties of friendship and cooperation between the two countries and nations.
He added that cooperation between the two peoples and countries is the result of a long friendship that has lasted for more than 40 years and is based on the principles of mutual respect, cordiality and economic complementarity, in which this country represents one of the most important destinations of the main Angola's export product, oil, and a major exporter of many goods and services that support the country's economic and social development.
He mentioned that in December 2023, the two countries signed the Agreement for the Promotion and Reciprocal Protection of Investments (APPRI), a legal instrument that aims to promote greater economic cooperation.
The APPRI also aims to stimulate the flow of capital and economic development, in addition to ensuring a stable and transparent framework for investment between Angola and China.
The President added that the presence of Chinese companies in Angola is unavoidable, as demonstrated by the New Luanda International Airport, the centralities built throughout the country, the improvement of road and rail systems or the production and distribution of electricity and drinkable water
“In the private domain, we also recorded the presence of investors from the People's Republic of China in Angola, across all sectors of the economy, but we must admit that it is still of little intensity if we consider the strength and dynamics of the Chinese business sector”, he said .
Mentioning the actions of the Angolan Executive, he said that in 2018 they began a broad program of economic, institutional and financial reforms, which continues to this day.
He added that the objective is to create the conditions for economic growth based on more sustained and inclusive foundations.
These reforms, according to President João Lourenço, allowed the country to emerge from a recessive cycle of economic activity, which lasted for years, balance public accounts and external accounts and improve the business environment.
On the other hand, he said that they also made it possible to improve the regulatory framework on private investment, competition and the fight against monopolies and corruption, as well as the organization of the financial system in line with best international practices, thus removing many of the obstacles to investment and ensure greater protection for foreign investors.
The President mentioned that the country has privileged natural conditions that allow it to boost economic growth and the generation of added value.
To this end, within the scope of the implementation of the National Development Plan for the period 2023-2027, the authorities chose Agriculture, Energy and Water, Manufacturing, Fisheries, Tourism, Health, Education, Logistics and Infrastructure as priority sectors.
Likewise, the priorities include the field of digitalization, to promote human capital and increase the capacity of means of production in Angola, with a view to achieving food security and satisfying other basic needs with a view to ensuring good - being of the population.
The President highlighted that the aim is to attract Chinese investors who will bring to the Angolan economy not only financial capital and advanced technology, but also 'know-how', to increase efficiency in the internal production of goods and services.
In this regard, Chinese investors are expected to help diversify the economy, increasing the domestic supply of goods and services with the “Made in Angola” seal, which will contribute to a significant increase in export goods and a substantial supply of jobs of work, which reduces the existing unemployment rate, he stressed. SC/ADR/DOJ
