The “Doing Business Angola 2024” event, held this Tuesday in Lisbon, brought together key stakeholders to discuss Angola’s evolving business landscape. Organized by Forbes Africa Lusophone and Jornal Económico, the second edition of DBA emphasized Angola’s potential as a gateway to the Southern African Development Community (SADC) region and addressed critical infrastructure, economic, and tourism challenges.
Macro Perspective on Business Environment
N’Gunu Tiny, founder of the Media9 group, opened the event by emphasizing a macro approach to Angola’s business environment, particularly the transportation sector’s role in linking to the regional economy. Highlighting Angola’s GDP growth from $14 billion to $70 billion, Tiny stressed the importance of infrastructure developments such as the Lobito Corridor and the new Luanda airport. He noted, “These infrastructures usher the country into a new era of growth, but access to markets remains a significant challenge.”
Investment and Pragmatism
João Afonso Fialho from Vieira de Almeida urged Portugal to enhance its investment support for Angola, moving from rhetoric to action. He praised the U.S. for its pragmatic investment policies, suggesting Europe, and specifically Portugal, should follow suit. “We need to put money behind these programs; it’s time to be pragmatic,” Fialho asserted, highlighting the strategic importance of the Lobito Corridor project and critical minerals.
Attracting Foreign Investment
Arlindo Chagas Rangel, president of the Angolan Private Investment and Export Promotion Agency (AIPEX), underscored Angola’s competitive advantages and the country’s evolution into an attractive destination for foreign capital. He spotlighted the agro-food and pharmaceutical sectors as pivotal for diversifying Angola’s economy. Rangel highlighted ongoing legislative reforms and fiscal incentives, such as tax reductions, to entice investors. He also mentioned the recent waiver of visa requirements for 98 countries, including Portugal, as a step towards opening up the country to the world.
Tourism and Economic Growth
Pedro Machado, Portugal’s Secretary of State for Tourism, highlighted the strong ties between Portugal and Portuguese-speaking countries. He noted Portugal’s improved standing in the IMD World Competitiveness Center (WCC) ranking, now at 36th place. Machado emphasized the strategic importance of tourism, citing that Portugal hosted over 30 million tourists in 2023, generating €21 billion in revenue.
The “Doing Business Angola 2024” event underscored the importance of strategic investments, infrastructure development, and international partnerships in fostering economic growth in Angola. As Angola opens its doors to global investors and tourists, the country’s commitment to creating a favorable business environment and reducing reliance on raw materials is evident. The collaborative efforts between Angola and Portugal, backed by pragmatic investment strategies, are expected to play a crucial role in shaping the future economic landscape of Angola and the broader SADC region.
