africa Angola Economy FDI

Angola needs to improve business environment for investments

Approximate reading time: 1 minute

Angola needs to improve the business environment and make the process of capital investment faster and more efficient in the country, to attract foreign direct investment, said Thursday in Luanda the Minister of State for Economic and Social Development, Manuel Nunes Júnior.

According to Manuel Nunes Júnior, who was speaking at the opening of the national seminar on auscultation of businessmen on the Program to Support Production, Export Diversification and Substitution of Imports (Prodesi), the country also needs to introduce adjustments to the current law on private investment, which is already under way.

He said that increasing domestic production and diversifying the economy are a national imperative, because if Angola does not have a strong, sustained and diversified economy, it will not be able to satisfactorily solve the country’s serious social problems.

Manuel Júnior recalled that from 2002 to 2008 Angola recorded average annual rates of double-digit growth and was the list of the world’s fastest growing countries in this period, a performance strongly influenced by the dynamics of the oil sector.

Source: Angop

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