The diversification of the national economy and the consequent growth and specialisation of production, in terms of the domestic production market and exports, requires adequate volumes of private national and foreign investment, as the driving force of productive activity, with the State playing the role of promoter and regulator of economic and social development.
Aware of the importance of private investment and the need for economic diversification, Angola has optimised the legal bases of the investment, reviewing the procedures in force in order to boost its attraction and promotion. Angola revised and adopted a new Private Investment Law (Law no. 10/18 of 26 June 2018) which establishes the general principles and bases for private investment in the country, establishes the benefits and facilities that the State grants to private investors and the criteria for access to them, as well as establishes the rights, duties and guarantees of private investors.
AIPEX - Angola's Private Investment and Export Promotion Agency - is one of the pillars of this strategy focused on accelerating and facilitating private investment in the country, both domestic and foreign, and promoting exports and international business of domestic companies, aiming to increase the competitiveness of the national economy through a dynamic and appropriate institutional framework.
What is AIPEX?
AIPEX is a legal person under public law, with legal personality, administrative, financial and patrimonial autonomy, dedicated to the promote exports, attracting private investment, registration of investment proposals, institutional support and monitoring the implementation of investment projects and internationalisation of Angolan companies.
It was created under Presidential Decree 81/18 of 19 March 2018 and results from the merger of the Technical Unit for Private Investment (UTIP) and the Angolan Investment and Export Promotion Agency (APIEX).
AIPEX is subject to the superintendence of the Holder of Executive Power, exercised through the Holder of the Ministerial Department responsible for Economics and Planning.
Its main assignments are:
• To promote and attract private investments of internal and external origin that may contribute to the socio-economic development of Angola;
• Ensure the reception and monitoring of private investment proposals to be made in Angola;
• To promote the attraction of foreign direct investment for strategic sectors of the national economy;
• To contribute to the creation of favourable conditions for private investment in Angola;
• To supervise and control the execution of approved private investment projects;
• To implement policies and programmes to replace imports and increase exports.
AIPEX is the investor's sole interlocutor at all stages of the investment process, through institutional articulation it supports investors, monitors investment proposals and ensures the conditions for the proper execution of investment projects.
• Increase the participation of the non-oil private sector in the development of the national economy by promoting and attracting FDI;
• Ensure the development of the competitiveness of national enterprises and promote their internationalisation;
• Contribute to the implementation of import substitution policies and programmes and increase exports.
To support the growth of a diversified and stable economy, through the promotion of national production, import substitution, increase and diversification of exports so that Angola participates in a significant and competitive way in the global economy.
AIPEX pursues values such as rigour, diligence and precision in compliance with the law, integrity, respect, transparency, impartiality and excellence.
Why invest in Angola?
High potential of the Internal Market: Investment in priority sectors has the potential to replace imports worth 3.3 trillion dollars.
Diversity and abundance of natural resources: 69 million hectares of forest; 1650 kilometres of coastline and capacity to irrigate 7.5 million hectares; 35 million hectares of arable land of which 14 percent in use; Existence of 38 of the 50 main ores used in the industry.
Important location as a gateway to Southern Africa: Angola is the second largest country in Southern Africa in terms of population, with 29.8 million inhabitants and five ports, namely Cabinda Lobito, Luanda, Namibe and Soyo.
Socio-economic stability with a young and cohesive population: Constitutional and democratic regime with free and peaceful elections in the last 15 years; openness to competition and to the outside world; average annual growth of 10 percent of GDP since 2002 and an estimated five percent per year until 2025; 30 million inhabitants with social cohesion and personal security index above the African average.
Angola is determined to attract investment and improve the business environment: Maximum of seven days for project approval; New Private Investment Law; No minimum investment amount; Simplified and priority access to services; Capacity to transfer values after project conclusion; Attribution of benefits according to the law; Government focused on attracting private investment; PRODESI (Production Support Programme, Export Diversification and Import Substitution) aims to achieve a sustained development process; Investment incentive and diversification programmes.
How to invest?
The process begins with the request for registration of the Investment Proposal, which can be done through the SETIP electronic tool or through direct contact with the services of AIPEX.
The company through which the private investment project is implemented must be previously incorporated, and for the purposes of applying for registration of private investment in the investment schemes provided for in the Law on Private Investment (Law No. 10/18 of 26 June), must submit the following documents:
- Letter of application for registration of the private investment proposal and respective issue of the CRIP, addressed to AIPEX;
- Investment Project Declaration Form and its annexes duly filled in (available at the AIPEX contact desks or at the AIPEX electronic portal);
- Copies of the identification of the applicants (Identity Card or Passport), in the case of individual persons;
- Copy of the Certificate of Commercial Registry, in case of legal person;
- Deliberative record of the decision to register the investment project;
- Document proving the existence of funds or other forms of carrying out the declared private investment project (Bank statement: for the form of realisation in monetary means and a suitable document issued at source by a duly certified asset evaluation entity for the form of realisation in machinery and equipment);
- Plan for training and gradual replacement of the foreign labour force by the domestic one, in accordance with the provisions of paragraph 3 of Article 46 of the Private Investment Law;
- Power of Attorney, in case of representation of the applicant.
Tax and costums benefits
Tax and customs benefits are granted to private investment projects according to the investment scheme in which they are framed.
Benefits of the prior declaration scheme
Prior Declaration Scheme: applies to private investments made outside the sectors considered as priorities for the purposes of the Private Investment Act.
|Deadline||* Two Years|
Benefits of the special regime
Special Scheme: applies to investments made in priority sectors of activity and tax benefits are granted according to the area of development in which they are located.
* 2 years
* 4 years
* 8 years
* 8 years
|Other Benefits Zones B, C e D|
Reduction by 50% for a period of four years
of Amortization and Reintegration rates
Under the special scheme, the private investment vehicle company is exempted from paying the fees and emoluments due for any service requested, including customs, by a non-business public body, for a period not exceeding five years.
AIPEX makes available to the investments of the special regime expedited and simplified procedures for the following services:
Legal, tax and social security registrations:
• Registration of intellectual property, movable property and real estate;
• Obtaining business licenses, construction, environmental and other licenses;
• Contracting energy and water services;
• Obtaining visas and residence permits;
• Other registrations, licences and administrative services necessary for the implementation of investment projects.
Where to invest
Investments may be made throughout the national territory. The increase of tax benefits in the Special Regime depends on the location of the project. Angola is divided into four development zones, zone A being the one with the lowest benefits and zone C the one with the highest benefits.
• Zone A: Luanda province and the host municipalities of the provinces of Benguela, Huila and the municipality of Lobito;
• Zone B: provinces of Bié, Bengo, Kwanza Norte, Kwanza Sul, Huambo, Namibe and the remaining municipalities of the provinces of Benguela and Huíla;
• Zone C: provinces of Cuando Cubango, Cunene, Lunda Norte, Lunda Sul, Malange, Moxico, Uige and Zaire;
• Zone D: Province of Cabinda.
Potential of priority sectors by region
Zone A e B
• Kwanza Norte: production of corn and palm cultivation; recovery of coffee and cotton cultivation; productions for the agro-industry; dynamization of the industrial poles of Lucala and Dondo;
• Bengo: processing of products oriented to the domestic market of Luanda; sustainable forestry; industrial fishing and salt production;
• Huambo: modernisation of agricultural, family, forestry, continental fishing and beekeeping activities; promotion of agro-industry;
• Benguela: recovery of the agro-livestock industry; development of the local fishing cluster mainly in Lobito, Benguela and Baía Farta; enhancement of coastal and game tourism;
• Bié: development of a provincial agro-industry cluster, taking advantage of the high agricultural potential;
• Kwanza Sul: scale agricultural production; industrial fishing centre in Porto Amboim and sea products;
• Huíla: development of the agro-livestock and agro-industrial; exploitation of iron, gold and ornamental rocks; potentiation of tourism;
• Namibe: consolidation of the fishing sector; valorisation of the agro-livestock sector and promotion of agro-industrial; investment in tourism.
Zone C e D
• Cabinda: development of the wood industry; semi-artisanal/gold exploration; agriculture and commercial fishing; affirmation of Cabinda as a tourist pole (Maiombe forest);
• Zaire: industrial production of agricultural productions; production of coffee cultivation; sustainable forest exploitation; artisanal fishing; bathing, nature and historical-cultural tourism;
• Lunda Norte: development of diamond exploration and related activities; increase of agriculture and livestock; promotion of sustainable tourism;
• Cunene: development of existing livestock and agricultural production potential; exploitation of mineral and forestry resources; promotion of landscape, historical and cultural tourism;
• Uíge: coffee and citrus production; sustainable forest exploitation; prospecting of the Mavoio mine; promotion of the Negage industrial pole;
• Malange: agro-livestock exploration and development of agro-industries; forestry and wood industry; tourist poles (example: Calandula Falls);
• Luanda Sul: promotion of family and sustainable agriculture, forestry and continental fishing;
• Moxico: large-scale rice production; exploitation of the second wood reserve; exploitation of mineral resources; hotel and tourism opportunities;
• Cuando Cubango: intensive agriculture of rice and corn; stimulation of Okavango tourism; and exploitation of the wood sector.
For more information consult AIPEX.