Angola is making significant strides in diversifying its economy by attracting foreign investment across various sectors. In a recent initiative, the Agency for Private Investment and Exports Promotion (AIPEX) has launched the ‘INVEST IN ANGOLA’ platform, aimed at streamlining and enhancing investment opportunities within the country.
Angola’s Economic Diversification Strategy
Historically reliant on oil, Angola is now focusing on diversifying its economic base. Key sectors identified for development include manufacturing, ICT, agriculture, and education. By tweaking private investment laws and offering incentives aligned with the developmental needs of different regions, Angola is positioning itself as a favorable destination for foreign investors.
The ongoing reforms cover political, economic, and social aspects, signaling a robust transition towards improving infrastructure and increasing regional integration. This includes better connectivity to support trade and cooperation with neighboring African nations.
Strategic Partnerships and Trade Agreements
Significant milestones include the recent trade partnership with Rwanda. The memorandum of understanding (MoU) signed with the Rwanda Development Board (RDB) aims to leverage mutual strengths and explore business opportunities. Learning from Rwanda’s successful Special Economic Zones, Angola aims to attract new investors and enhance its own Luanda Special Economic Zone.
Oil and Gas: Still a Cornerstone
Despite diversification efforts, the oil and gas sector remains crucial. Initiatives like an in-depth investor report and a high-level documentary produced in partnership with Energy Capital & Power (ECP) will highlight opportunities in this sector. Major events such as the Angola Oil & Gas (AOG) Conference continue to draw attention, fostering discussions, networking, and deal-making among key industry players.
More than a website
According to Forbes Africa Lusofone, the platform is a strategic tool aimed at facilitating access to critical information and resources for investors worldwide. Currently, there are 84 investment opportunities in key sectors such as agriculture, energy, infrastructure, and two projects under the privatization program (Propriv), as well as 539 products from the “Made in Angola” brand, reflecting the government’s commitment to promoting the Planagrão (National Grain Production Promotion Plan).
AIPEX will be responsible for managing this platform – “we are fully committed to ensuring that it becomes a benchmark of excellence and an indispensable support point for investors. Our team is focused on keeping the content updated, relevant, and aligned with international best practices. We will continuously expand the available resources, incorporate interactive tools, and offer personalized support to meet the needs of investors. We are aware that diversifying content and including interactive features such as investment maps and incentive calculators are essential to providing a complete and efficient experience,” says AIPEX.
The launch of the ‘INVEST IN ANGOLA’ platform signifies a strategic effort to attract and retain foreign investment, thereby promoting sustainable development and inclusive growth. By capitalizing on its strategic location, abundant natural resources, and evolving business environment, Angola is poised to make significant advancements in its quest for economic diversification.
