Ver Angola

Industry

ZEE companies will benefit from tax incentives to employ young people

Companies located in the Special Economic Zone (ZEE) will benefit from tax incentives to facilitate the hiring of young people. The announcement was made by the executive director of the ZEE, Adriano Celso Borja, this Tuesday, when speaking at the ninth edition of 'Café CIPRA'.

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"Companies installed in the Special Economic Zone (ZEE) will benefit from a revenue relief package, to facilitate the hiring of more qualified young people looking for a job", reads a statement from CIPRA, which VerAngola had access to.

Cited in the statement, Adriano Celso Borja explained that "five percent of the revenue" of the factory units will be "given off" in order for them to hire young people.

"Five percent of the factories' revenue will be given up so that they employ, in this proportion, young people of working age", said the executive director, who clarified that the realization of this purpose is "founded on a solution called 'Bolsa de Oportunidades'".

According to the communiqué, the said scholarship aims to "capture information from young people interested in this project, assess their structural competence" and place them "in the job market, in order to take advantage of the potential they carry to guarantee the economic growth".

On the occasion, the official also mentioned that there are 157 companies installed in the ZEE, but only 81 are operational, having already generated 7500 direct jobs.

"With a confirmed turnover of 60 million euros and a potential to generate around 10,000 jobs by the end of this year, ZEE expects to raise the number of functional companies to 100 in this same period", reads the statement.

Adriano Celso Borja also said that light industry currently accounts for 62 percent of overall production in the economic zone, followed by trade (28 percent) and services (10 percent). "Right now, light industry accounts for 62 percent of global production in the EEZ, followed by the trade sector with 28 percent and services with 10 percent. our entrepreneurs, very focused on genuine production", he said, quoted in the statement.

In the first quarter, adds the note, "ZEE revenues recorded a growth of 116 percent compared to the same period in the previous year".

According to the person in charge, at the beginning of last year, revenue was estimated at two million dollars, while revenue for this quarter was estimated at four million dollars.

"At the beginning of last year, revenue was estimated at two million dollars. At this time, revenue for this quarter was estimated at four million dollars, which shows that there is an appetite for entrepreneurs to participate in the ZEE project, with advantages competitive both from a geographic point of view, as well as in infrastructures that drive private investment", said Adriano Celso Borja, quoted in the statement.

The ninth edition of 'Café CIPRA' had the theme "The relaunch of industry and the promotion of employability" and, in addition to Adriano Celso Borja, the Ministers of Industry and Commerce, Victor Fernandes, and of Economy and Planning, Mário João Caetano, as well as the chairman of the AIPEX Board of Directors, Lello Francisco.

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