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Entrepreneur estimates growth of the packaging industry in the country to one million dollars by 2024

Angolan economist Eliseu Vunge estimated Wednesday that the country's packaging industry could see a million-dollar growth by 2024, praising the new import rules for pre-packaged products in Angola.

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"Just to give us a small idea of this packaging industry its volume in terms of earnings is around US$917 billion, so it is an industry that Angola cannot keep up with and with growth prospects until 2024 of around US$1 million," the economist said Wednesday.

According to the economist, who was speaking Wednesday in Luanda, at the presentation ceremony of the decree that establishes new rules for importing pre-packaged products, as of June 17, the executive's measure contemplates countless advantages.

For Eliseu Vunge, one of the speakers invited by the Ministry of Industry and Commerce to the meeting, the authorities' initiative will contribute to the economic development of the country, encouraging the small packaging industry.

The executive decree no. 63/21 of March 17 establishes new rules on the importation of pre-packaged staple basket products, which will now be mandatorily made in "big bags" (large packaging) for the accommodation of bulk products.

The document officially presented this Wednesday in Luanda, to the sector's operators, businessmen, academics and journalists, determines that as of next June 17, 15 products from the basic food basket will be imported in big bags.

The use of big bags "will become the rule" for the importation of sugar, rice, wheat and corn flour, beans, powder milk, cooking oil, animal food, coarse and refined salt, wheat semolina, pork and beef, margarine and soap.

The foreign exchange savings for the country, with this measure, was also pointed out by the economist for whom the measure "comes at a good time" and "steps should be taken and bring the incentive to our entrepreneurs already in the industry.

The decree also notes that the General Tax Administration, the Tax Police and the National Authority for Economic Inspection and Food Security are the bodies in charge of monitoring compliance with the provisions contained in the executive decree.

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