Ver Angola


More than 90 percent of foreign investment absorbed by the oil sector

Foreign Direct Investment (FDI) in the country is almost entirely absorbed by the oil sector: until the second quarter of this year, the amount collected from FDI in the country was 9.7 billion dollars, of which more than 90 percent were used in the petroleum field.


These figures, according to the director of the statistics department of the National Bank of Angola (BNA), Joel Futi, reflect a reduction of around 20 percent in the arrival of investment in Angola compared to the last five years.

Among the reasons that explain this decrease is the decline in national oil production that has been observed in recent years, as well as the high cost of production - which on average is around 60 dollars per barrel - and the commitment to the production of clean energy worldwide. , said the official, quoted by Angop.

If oil takes the 'gold' in terms of greater absorption of FDI, the 'silver' goes to diamonds. Placing this sector in second place on the podium, the official said that the diamond sector registers, on average, more than 100 million dollars annually, writes Angop.

Thus, Joel Futi admitted that other sectors still need to be streamlined, setting an example in the fields of commerce, industry and tourism, with the aim of diversifying investment capture and generating new jobs in the country.

He also defended the improvement of infrastructures and the business environment, with a view to investing in other sectors, writes Angop.

The official was speaking on the sidelines of the training session on "Improvement of Statistics on Foreign Direct Investment and on the activities of Multinational Companies", to be held between 26 and 28 October, which aims to enable developing countries to adopt appropriate decisions and formulate oriented policies to the attraction of FDI.


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