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Politics

Economic Commission approves plan to improve the business environment

The Economic Commission of the Council of Ministers approved, on Tuesday (April 25), the Business Environment Improvement Plan 2023-2024.

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Approved during the third ordinary session, guided by the President of the Republic, the document "contains the fundamental activities to be carried out and the milestones to be reached, indicates the entities responsible for their execution, the deadlines and the levels of priority", according to a statement from the Government, to which VerAngola had access.

With this initiative, adds the note, the Government wants to "continue to improve the business environment for national companies", through "improving their efficiency". In addition, the initiative also aims to reduce "the number and duration of procedures for creating companies and the respective costs, as well as the quality of regulations, specifically the application of clear and transparent measures".

The Minister of Economy and Planning, Mário Caetano João, in statements to the press, took the opportunity to announce the "introduction, in the plan, of the figure of the 'Mysterious Client'", aiming to assess the main constraints.

"This figure of the mystery shopper is, in fact, a figure that helps us to understand whether what we have been adopting to improve the business environment, effectively on the spot, has been being implemented", explained the official, quoted in the communiqué.

According to the holder of the Economy and Planning portfolio, the plan defines 11 areas of intervention: obtaining credit; minority investors; international trade; execution of contracts; insolvency resolution; opening of companies; licensing; property records; obtaining electricity; tax payments and cross-cutting activities, says the note.

Furthermore, the minister also informed that the country was invited by the World Bank to join the Pilot Project for the Improvement of the Business Environment. "The old report was discontinued in 2020 and now the World Bank has decided to bring a new report prototype and Angola has been invited to participate as a pilot market, in order to be able to assess whether this new report is more assertive", he revealed, quoted in the note.

Also in the session, the note adds, the economic commission also "considered, for submission to public consultation, the Angola 2050 Long-Term Strategy, a fundamental instrument of the National Planning System".

"This is a development program that represents a significant paradigm shift in relation to the Angola 2025 Long-Term Strategy, whose replacement is justified by the changes registered in the internal and external contexts, initiated in 2008 and deepened from 2014, after the sharp drop in the price of oil," reads the statement.

According to the holder of the Economy and Planning portfolio, the document reflects the "main aspirations of the country until 2050".

"Our economy is approximately 120 billion dollars and we should double that to 290 billion dollars. With population growth, we hope that GDP per capita will also reach 4,200 dollars. fall by a third, going from 30 to 20 percent. And we also hope that the public debt can have better quality, positioning itself below 60 percent of GDP", he said.

In addition, adds the statement, the commission was also informed about the evolution of GDP for the fourth quarter of last year, "where it highlights that, in essence, despite the weak performance of the oil sector, including gas, it confirms the consolidation of recovery of economic activity, determined by the positive dynamics of the non-oil sector".

The minister explained that in year-on-year terms there was a growth of 2.6 percent compared to 2021, "and from the third quarter of 2022 to the fourth quarter, there was a growth of 0.2 percent".

"The non-oil sector registered a growth of 4.9 percent, enough to offset the negative growth of the oil sector by around 5 percent", he said.

Regarding the management of public finances, the commission approved the Annual Debt Plan for 2023, "which materializes the financing strategy within the scope of the execution process of the General State Budget, taking into account the internal and external sources of financing and a level of indebtedness within sustainable limits", says the statement.

"In the same domain, the Financial Programming of the National Treasury was approved, referring to the second quarter of 2023, a document that contains the projections of the inflows and outflows of financial resources in the period in reference, the revenue assumptions, the operations with direct and indirect impact treasury operations, as well as financial operations and an approach to the risks involved in their execution", the note also reads.

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