Angola boosts economic cooperation with Portugal, investments in varied sectors assured

The Portuguese and Angolan governments are working to strengthen the economic cooperation, with a highlight on the capacity of firms to make investments, said the Portuguese secretary of State for Economic Affairs, João Neves, on February 21 in Angola’s capital city Luanda.

Speaking to the press, at the end of a meeting of the Angola-Portugal Investment Observatory, João Neves stressed that governments have the responsibility of creating a simple regulatory framework, capable of implementing Angolan investments in Portugal and Portuguese investments in Angola, with the lowest intervention on the State side.

According to the Portuguese minister, the relationship of companies and the authorities is precisely aimed to build stronger links between the countries. “We are very open to Angolan investment in Portugal and what the Angolan authorities have conveyed us is also the huge interest in having Portuguese investment in Angola that will strengthen the Angolan economy,” he opined.

João Neves said that this economic relationship is very important for the economic development of both countries because the intention is to build a common path that can help both countries to develop. For this reason, he added, the visit of President Marcelo Rebelo de Sousa to Angola is a milestone and he also intends to point out this from an economic point of view and materialize it in cooperation protocols.

The minister said that at the meeting there was an enormous capacity for dialogue between the Portuguese and Angolan authorities, within the framework of a new cycle of economic relationship that everyone has an interest in the building. João Neves said that the Angolan authorities have expressed their interest in collaborating with Portuguese institutions in the field of training and institutions capacity-building, which could allow an easier economic environment for investment in Angola.

Angola’s secretary of State for Economy, Sérgio Santos, said that the priorities are in all sectors and domains, especially those related to the diversification of the economy.

“The priorities are in food production, agribusiness and manufacturing, which is associated with agriculture, mineral resources because we have enormous potential and even comparative advantages compared to the rest of the world,” he said.

In his view, in relation to Portugal, the visit of the President of the Republic, João Lourenço, to the European country re-launched the cooperation between the two countries. “This also ensures that investors will find support from the two governments for their investment intentions”, Sérgio Santos stressed.

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