Ver Angola

Economy

Angola and Bloomberg sign contract to attract foreign investment

Angola has signed a service contract with Bloomberg to promote investment attraction among clients of the multinational, within the framework of its economic diplomacy to mobilize international investors, it was announced.

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According to the chairman of the Board of Directors of the Private Investment and Export Promotion Agency (AIPEX), António Henriques da Silva, the two-year contract between AIPEX and Bloomberg is already being implemented.

The official who was speaking in Luanda at the opening of a seminar on Agreements for the Promotion and Reciprocal Protection of Investments (APPRI) said that the contract is part of the process of implementing the Private Investment Funding Project.

For the president of the Private Investment Agency, one of the legal instruments to give confidence to international investors is the celebration of APPRI between capital exporting and importing countries.

Reciprocal investment promotion and protection agreements are bilateral instruments that contain binding measures designed to create more favorable conditions for investors from one of the signatory States to make investments in the territory of the other.

The reciprocity regime is one of the prerequisites of these agreements.

Allowing the beginning of a permanent debate in relation to the celebration of APPRI is, according to the official, the basic foundation of the seminar, considering that foreign investment includes advantages and disadvantages, especially for the recipient country.

Foreign exchange, knowledge transfer, job creation and increasing the level of competitiveness of local companies, he stressed, are among the advantages.

"However, foreign investment can also have disadvantages, if the recipient country fails to establish objectives and strategies capable of minimizing factors that are detrimental to sovereignty and security", he stressed.

Technicians from AIPEX, the parliament, the Ministries of Economy and Planning, Industry and Commerce, Foreign Affairs, among others, participate in the meeting, some by video conference.

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