Ver Angola

Economy

Companies may create more than 54 thousand jobs under the Economic Relief Measures

Under the Economic Relief Measures, companies and cooperatives may generate more than 54 thousand jobs. The information is provided by the national director of Economy, Competitiveness and Innovation of the Ministry of Economy and Planning, João Nkosi, who indicates that with the approved microcredit projects it is estimated that 54,241 jobs will be created.

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In a statement, the Government indicates that last year, projects by 470 companies, which were approved under the Economic Relief Measures, are being implemented throughout the country.

"Of this number, 208 companies, a number corresponding to the same number of projects, are aimed at the acquisition of consumer goods of national origin, benefiting from the Economic Relief Measures," the statement said.

Luanda leads the list of provinces with the highest number of projects, having registered 39 initiatives. In second place is Huíla with 25 projects, followed by Bié (19), Benguela and Lunda Sul, both with 14 projects.

The note also reports that the Economic Relief Measures allowed to give the green light and to finance 754 micro-credit projects.

"With the approved projects, it is expected the generation of 54,241 jobs, associated with agricultural activity, project management, entrepreneurs, among others, and an increase in turnover in companies of 727 billion kwanzas," said the national director of Economy, Competitiveness and Innovation of the Ministry of Economy and Planning, quoted in the statement published on the government portal.

According to the statement, most of the 754 projects are in Huambo province (457), followed by Luanda (136), Huila (70) and Benguela (70).

The official also noted that the sectors most covered by this process were retail and distribution, agriculture and fishing, manufacturing, food and beverages, livestock, continental fishing, sea fishing and aquaculture.

The statement also made it known that the Development Bank of Angola provided, "in global terms, 38.6 billion kwanzas for the materialisation of 463 approved projects.

Regarding the tax credit for the production of basic food basket products, the statement said that during 2020 several sectors had benefited from "12-month tax credit measures on the value of VAT, payable on the import of capital goods and raw materials that are used for the production of basic food basket goods.

The Ministry of Economy and Planning registered 1,097 requests for tax credits: "The Ministry of Economy and Planning registered 1,097 requests for tax credits from 25 companies, corresponding to 27.18 billion kwanzas, for payment this April.

According to the statement, after the deadline, the General Tax Authority will begin "enforced collection.

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