Ver Angola


AIPEX wants more direct investment from the EU than the nine percent in the last five years

Direct investment from the European Union (EU) in Angola over the last five years represented just nine percent, revealed the president of the Angolan Private Investment and Export Promotion Agency (AIPEX), a situation that he wants to improve.


Lello Francisco said that it is this situation that he wants to see reversed with the signing this Friday, in Luanda, of the EU Sustainable Investment Facilitation Agreement between the Government of Angola and the European organization, on the sidelines of the second business forum between Angola and the EU.

The official stressed that the EU is a primary partner, with a privileged position for some of its Member States, in commercial relations with Angola, contrary to what happens in the partnership in terms of investments.

"It is precisely this situation that we have to reverse, it is this challenge that we have, of bringing investors and investments from the EU to our country. We hope that with the agreement that will be signed today we will begin to change this situation", he highlighted.

According to the president of the Board of Directors of AIPEX, Angola has had "an excessive drain on resources" to import consumer goods that the country is able to produce locally, highlighting that around US$2.5 billion are disbursed annually on goods food.

Lello Francisco called for investment by European businesspeople in the pharmaceutical sector, remembering that practically all of the medicines consumed in the country are imported, and also highlighted the interest in developing the textile industry sector.

The country records, annually, an import volume of textile clothing of around 500 million dollars, he highlighted.

The head of the EU delegation in Angola, Rosário Bento, said that the agreement to be signed is the first of its kind in the world, with the objectives of facilitating investment, increasing transparency and predictability of measures related to its application, as well as the simplification of investment authorization procedures and the promotion of electronic government.

"In another key aspect for the EU, the agreement promotes more sustainable investments by including commitments to effectively implement international labor and environmental agreements, such as the Paris Agreement, and strengthen bilateral cooperation in investment-related aspects of climate change policies and gender equality policies", said Rosário Bento, adding that the agreement also guarantees dialogue with civil society on its implementation.

Rosário Bento highlighted that the business forum also represents an additional, important milestone in the long-standing partnership between the EU and Angola, within the scope of the strategic dialogue "The Joint Path", signed in 2012.

For the Minister of Economy and Planning, Mário Caetano João, the forum is a "manifest desire" of Angola and the EU to continue working in the search for joint solutions with reciprocal advantages to resolve the most diverse development challenges that afflict both parties.

Mário Caetano João said that Angola counts on the EU's experience to have development cooperation, but also to attract more European investment and "support the efforts of the Government of Angola in improving the business environment, diversifying the economy and rationalizing its infrastructure ".

The minister believes that the agreement should contribute to a substantial change in the country's business environment, and help unlock Angola's potential, "transforming potential wealth and real wealth, focusing on value chains and positioning European foreign direct investment as one of the main drivers of cooperation between the EU and Angola.


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