Angolan Government reinforces private investment in Cuanza Norte

(Photo: Vandre Spellmeier)

The government of the northern Cuanza Norte province is adopting policies focused on encouraging and publicising the provincial economic potential with a view to attracting more private investment and diversification of the local economy.

This was said by the province’s vice governor for economic sector, Henrique Jorge do Sacramento e Sousa, when speaking Monday to Angop on the issue.

He said that the local government is currently focused on the development of productive reorganisation and growth models adjusted to the economic reality of the region.

The deputy governor said that the province has enough conditions to turn the region into a true concentration of private investment centre.

According to him, this is possible because the region is potential in terms of water resources and regular supply of electricity from the Cambambe (in Cuanza Norte) and Capanda (in Malanje) dams.

The official noted that the existence of large extensions of arable land and water resources in abundance guarantees the attraction of private investment.

On the other hand, the official regretted that Cuanza Norte business sector is still at a very low level when compared to the neighbouring provinces of Uige, Malanje and Cuanza Sul.

He added that the levels of productivity, employment and tax contributions of private investors are still low.

The deputy governor said that the province currently has a total of 467 small and medium-sized enterprises in the private sector that operate in various branches.

Of that number,  256 are in full activity, guaranteeing employment to 763 citizens.

With more than 40 years of existence in the national market, the brewery company EKA, located in the municipality of Cambambe and with current levels of production of five million litres / month, is the Cuanza Norte’s oldest manufacturing unit and with larger private investments in the province.

Cuanza Norte has 10 municipalities and 31 communes.

Source: Angop