Speaking at the presentation of the report "Barometer of Managers 2024", Francisco Alegre Duarte expressed "immense pride" in the contribution of companies to the country's development, "creating wealth and quality jobs", but admitted that "not everything is rosy, like any businessman who operates in Angola knows this well".
Among the challenges and difficulties that impact Portuguese companies in the Angolan market, he highlighted the payment of debts, exchange rate devaluation, inflation, interest rates, the difficulty in repatriating capital, obstacles to import licenses, the challenges of legal predictability, the lack of reciprocity in terms of social security (notably with regard to pension portability) and the lack of qualified labor, with a negative impact on operations and investment plans.
The diplomat also pointed out the need to better communicate Angolan priorities in terms of economic policy so that businesspeople have more confidence and security when making decisions.
"For this reason, I have repeatedly highlighted to the Angolan Government that the best way to attract new Portuguese companies is to support those that are already in Angola – with a sense of commitment to proven performance in good times and bad times", he stated.
He said that relations between Portugal and Angola are characterized by stability, maturity, and the desire to promote greater cooperation, especially in the economic-financial and commercial domains that have been priorities for the Portuguese government, highlighting the increase in the credit line under the Portugal-Angola Bilateral Convention worth one billion euros in two years, currently reaching 2.5 billion euros.
"We also took new steps towards the certification and payment of debts to companies, which continue to be a priority for Portugal", he stressed, adding that the priorities and concerns of Portuguese companies are at the center of the diplomatic action.
Francisco Alegre Duarte highlighted that, in addition to the economic aspect, cooperation is also of political and strategic importance, pointing out the discussions that have been promoted around the Lobito Corridor, "which could positively transform the entire economy not only in Angola, but also in the entire region involves, and in which the participation of Portuguese companies has been very relevant", or the contribution that Portugal wants to make so that Angola complies with the recommendations of the International Financial Action Group (FATF).
Regarding the Barometer carried out by the Portugal-Angola Chamber of Commerce and Industry, together with the consultancy PwC and Agency for Investment and Foreign Trade of Portugal (AICEP), it considered that Portuguese companies have "a capacity to adapt and a tenacity that makes them valuable partners for the development of Angola" and pointed to economic interconnection and human mobility as "the engine" of the relationship between the two countries.
