Ver Angola


Angola and World Bank work to accelerate economic diversification

The announcement was made by Laércio Cândido, national director for the Business Environment at the Ministry of Economy and Planning, who informed that the Executive is working with the World Bank (WB) to put into practice the project that aims to accelerate economic diversification and generate job, budgeted at 300 million dollars.


According to the official, the project will encourage geographically balanced economic and sustainable change, stimulated by the private sphere through the growth of the Lobito corridor, whose focus on that corridor, he clarified, is due to its strategic relevance, and should help the development of services and financial opportunities for micro, small and medium-sized companies, writes Angop.

Laércio Cândido – in statements at the usual briefing by the Ministry, cited by Angop – also made it known that he intends to move capital from the private sphere to stimulate productive infrastructures, which will be a stimulus for achieving the diversification of the economy.

The official also mentioned that among the pretensions is the improvement of the investment and trade environment.

"We will be implementing measures in all provinces to simplify the business environment process. Along the corridor there are several infrastructures that have great potential to boost the private sector. They are public infrastructures that need a small investment to make them attractive to the private sector", he said, quoted by Angop.

On the occasion, the national director for the Business Environment of the Ministry of Economy and Planning also took the opportunity to mention the fact that Angola is one of the first 40 countries selected by the BM to integrate the ranking of the favorable environment for doing business.

He also informed that an action plan is being prepared to improve the business environment. "We are preparing the 2023/2024 action plan, which is normally the evaluation period and this document results from the actions that we were unable to carry out in the financial year 2022/2023 and has the support of the World Bank", he said, adding that they will be proposals aimed at improving the business climate in the country, to be carried out by a multisectoral team, writes Angop.

According to Angop, it includes 11 elements that constitute the life span of a company, from opening until insolvency.

"In the action plan we will describe or determine activities and then concrete actions for obtaining credit, initiatives for improving the competitive governance of companies and protecting the interests of minority investors", said the official, quoted by Angop, adding that these initiatives contribute for cross-border trade, facilitation of import and export processes, among others.


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