Angola: Private investment contracts reach USD 38 million

(Photo: Vandre Spellmeier)

At least seven private investment contracts estimated at USD 38, 1 million were signed on Friday in Luanda by the Ministry of Industry and national and international businesspeople.

From the total of the amount USD 38.183.839.44 for private investment, USD 24, 8 million corresponding to 65.19 percent is of national capital, while the other tranche was made by foreign institutions.

The seven signed projects will allow the creation of 577 new direct jobs, whose 535 of them will be provided to Angolans.

All the projects approved by the Ministry of Industry are linked to industry sector, specifically in the industries of paints, ceilings, coffee manufacturing, food production amongst yogurt, alcoholic beverage and others.

The deals were signed by companies namely Neuce Paint Industry of Angola, Angonabeiro-Trade and Industry of Coffee , Heran General Trading Indústria, Betalice, Every Where Angola and  Nacional Distillers.

Source: Angop