The agribusiness, mining, telecommunications and infrastructure sectors are the areas that offer the most opportunities for private investment in Angola, the national director of Studies and Planning, Luís Epanga, said last week, in Luanda.
Alongside these areas, the head of the Ministry of Economy and Planning also highlighted the potential of human capital, mostly made up of young people, who can be catalysts for the process of economic diversification.
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When speaking at a round table about the process of building the “Sustainable Investor Map”, he recalled that Angola only exploits around 10% of its arable land, a fact that opens up opportunities for investors to explore the agricultural potential in the country.
“Entrepreneurs have the opportunity to develop the value chain and invest with the assurance of having a return on investment and responding to the challenges of the millennium’s Sustainable Development Goals (SDGs)”, he highlighted.
Regarding the existing opportunities in the telecommunications sector, Luís Epanga recalled that only around 14% of the 33 million inhabitants in Angola have access to the internet, a gap that entrepreneurs can fill with the injection of capital into this business area.
Regarding mineral resources, Luís Epanga highlighted that Angola has 38 of the 50 most important minerals in the world, which is an opportunity for private investors to explore these minerals and develop their value chain.
At the same event, the executive administrator of the Private Investment and Export Promotion Agency (AIPEX), José Chinjamba, stated that “the country is still an untapped market in almost all areas”, a fact that gives investors the chance to excel in sustainable development, with emphasis on to mitigate environmental impact.
According to the official, at a time when Angola is building the Sustainable Investor Map, it is essential that businesspeople are aligned with the National Development Plan (PDN), with solid investments in health, education and infrastructure, so that the best results from the SDGs can be obtained by 2030.
The chairperson of the Bakery Industries Association, Gilberto Simão, pointed to the reform of the Land Law as one of the factors for the success of the Sustainable Investor Map. The review of this law, he said, could avoid the current conflicts between businesspeople and peasants.
For sustainable development specialist Carina Costa, the success of the Sustainable Investor Map essentially depends on interaction with existing plans, such as the Production Support, Export Diversification and Import Substitution Program (PRODESI) and the Privatization Program.
In the same vein, the technical specialist from the United Nations Development Program (UNDP), Lorenzo Mancini, stated that the manufacturing industry sector is at the center of the Sustainable Investor Map, to boost Angola’s economy.
On the other hand, the chairperson of the Chamber of Commerce and Industry of Angola (CCI), Vicente Soares, pointed to bureaucracy as one of the main obstacles to attracting more private investments for he country.
The Sustainable Investor Map is an initiative of the Ministry of Economy and Planning, in partnership with financial institutions, academia and civil society, with the aim of identifying areas of investment opportunities and promoting private sector participation in sustainable development, taking into account takes into account the pressing needs of the SDGs.