"Angola has a range of natural resources, which are essential for those who want to invest. Today we have a range of possibilities that give those who want to invest the ability to make a profit on their investments. What is important is to create these conditions", argued the official, quoted in a statement sent to VerAngola.
During his participation in the aforementioned panel, the office managing partner of EY Angola highlighted that Angola can assume a "decisive role in the growth of the region" of the Southern African Development Community (SADC).
"It is a region that is growing and has many opportunities for investors to make happen", he added.
Speaking on the panel, which served to discuss the "opportunities existing in Angola for foreign investors" and share "ideas and visions on the business environment in the country", Carlos Basto said that "there are conditions for the Angolan economy to take a leap".
"The oil and gas sector is fundamental, currently representing 27 percent of GDP. It is important that its relative value decreases, but that its absolute value increases. It is essential that all the policies that the government is implementing continue to have an effect and that production increases. However, it is also important, especially to deal with the impact of the price of oil on the economy and its volatility, that other sectors grow," he said.
Regarding the risks that investors currently face and how these can be prevented and overcome, the official considered that "macroeconomic stability is essential for investors to feel confident when investing."
"There are issues that are easy to manage, others not so much. But price stability is important, that is, controlling inflation, and having the ability to predict what my prices will be when I invest in that country. In addition, exchange rate stability is also important," he considered, quoted in the statement.
According to Carlos Basto, Angola has "great potential to attract investment."
"Angola is a young country and has opportunities to create investment sectors in which it can develop people. It is difficult to invest by bringing only skilled labor from other countries. The investment that Angola can make in its human capital will also be decisive in improving the conditions for what investors will do in the country," he added.
It is worth remembering that the fifth edition of Angola Oil & Gas took place between 2 and 3 October, in Luanda, under the theme "Boosting Exploration and Development to Increase Production in Angola".
