Africa Angola Cooperation Economy FDI Government Investing

Angola bets on attracting more investments from the US

The President of the Republic, João Lourenço, said that the Angolan government was taking measures to attract more business and investment from the United States of America (US).

According to the Angolan head of state, who was taking part, via videoconference, in a round table before the US President’s Consultative Council on business in Africa, “Angola has given great prominence to its relationship with the North American business community.

João Lourenço said that from this relationship Angola expected important investments to help boost its economy and development.

“The histories of Angola and America have been interconnected since the first African slaves arrived in North America, specifically in Jamestown (Virginia), from Angola,” the Angolan statesman said.

He said that the Government, led by him, was making a “huge effort” to transform the economy and encourage private investment and free enterprise.

President Lourenço noted the importance that the Angolan government had given to strengthening its commitment to democracy, transparency, fighting corruption and protection of human rights.

He said that “the implementation of these reforms has not been easy, but is necessary and vital for the future of the Angolan people.

“As we carry them out we are establishing strategic partnerships with several nations of the world, with growing interest for the United States of America,” he noted.

Also read: Draft Law reinforces the powers of the Angolan National Bank

He expressed satisfaction that there was an increasingly dynamic exchange between Angola and the United States of America, as well as recognised the current good level of bilateral relations.

“Cooperation between the two countries has been exemplary in the way in which the United States of America has been committed to helping Angola meet many of its challenges,” he said.

In this chapter, he acknowledged the assistance that the US has provided to Angola, as the first individual donor of landmine clearance equipment deployed on national territory.

About Angola-US relationship

The US and Angola established formal diplomatic relations in 1993. The energy sector is at the heart of Angola-American relations.

Since 2002, the objectives of US foreign policy in Angola have been to promote and strengthen democratic institutions, promote economic prosperity, improve health and consolidate peace and security.

The US has also participated, in partnership with Angola, in the removal of landmines.

The US EximBank has a credit line to support US exports to Angola.

The US-Angola Chamber of Commerce is dedicated to promoting trade and investment between the two countries.

Source: Angop

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