Ver Angola

Economy

Business forum promotes European investment in Angola

The first EU-Angola Business Forum, which aims to promote investment in the Portuguese-speaking country, will take place on Thursday, bringing together 800 participants, including a delegation led by the Angolan minister for Economic Coordination and 20 officials from the main European companies.

: Lusa
Lusa  

The forum, launched by Brussels, takes place in a hybrid format, and aims to show European companies the business opportunities in Angola in addition to oil and gas, with emphasis on agro-industry, renewable energy, digital transformation, logistics and infrastructure of water, in line with Europe's Global Gateway strategy and the Africa – Europe Investment Package, according to a statement from the European Union (EU) delegation in Angola.

A delegation led by the Minister of State for Economic Coordination, Manuel Nunes Júnior, and other ministers will present to potential investors the reform agenda and vision of the Angolan executive to support foreign direct investment in the country.

The Forum will also host the signing of some agreements: a loan of 50 million euros from the European Investment Bank, an EU grant, in the amount of seven million euros to support Angola's health resilience in relation to covid-19 and a development project agreement worth 25 million euros between the Dutch organization Flying Swans and the Angolan Cargo and Logistics Regulatory Agency (ARCCLA).

Emphasis will also be given to the Sustainable Investment Facilitation Agreement currently under negotiation between Angola and the EU.

Participants will also explain how companies can take advantage of the future Angola-EU Sustainable Investment Facilitation Agreement, currently under negotiation, and the financial tools available to investors.

"This new form of investment agreement will promote sustainable and responsible investment, which will diversify and improve the resilience of our economies and support our climate and energy change," said Executive Vice President and Trade Commissioner Valdis Dombrovskis, quoted in the same statement.

The prospects for Angola's accession to the EU-SADC (Southern African Development Community) Economic Partnership Agreement and its potential benefits will also be highlighted.

The event takes place within the framework of dialogues between the EU-Africa public-private sectors, supported by the EU-Africa Business Forum, and is jointly organized by the European Union and the African Union.

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