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Angola ZEE assigns ownership to foreign companies

Eight foreign private equity companies acquired, last Friday, the full real right over property in the Special Economic Zone (ZEE).

These are the organization Aroma Verde (juice factory), BD Soluprafia (raffia bag factory) Tai SA (Zenza car assembly lines), Sogepneus (shopping center), Yoni Bem (pasta factory), Invesco (Food industry).

The list is completed by Gestaflora (a wood processing factory for luxury furniture) and Imex Trade (general trade), which have now the possibility to resort to bank financing at a reduced cost, since they can present those properties as guarantees.

Also read: Angola amends industrial and personal income tax codes

Speaking to the press after the signing of the title deed documents, the administrator for the legal area of ​​the Economic Zone, Amorbelo Sintongua, considered it historic, for those are the first companies to reach this phase 10 years after the creation of the Luanda-Bengo economic zone.

He added, on the other hand, that it will be a step that will encourage entrepreneurs to increase investment and jobs.

At least 272 private companies, both national and foreign, operate in the ZEE, 56 under a promise contract and now eight with title deeds.

Source: Angop

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