DID YOU KNOW…?
To invest in Angola, you need a local partner.
You must train local citizens and residents in the job skills and positions required to implement your investment as an Angolan-foreign partnership.
You get tax privileges for investing in Angola
International companies that partner with local Angolan companies have both direct and indirect government support to carry out their investment plans.
According to the International Monetary Fund (IMF), Angola’s GDP grew by over 20% in 2007 making it Africa’s fastest growing economy and the fourth fastest in the world.
Angola is experiencing an unprecedented economic boom. In May 2008, the Organization of Petroleum Exporting countries (OPEC) confirmed Angola’s oil production at 1.9 million barrels per day. The growth in this industry has had substantial spillover effects, spurring investment in the financial services, construction, and agriculture sectors.
New businesses are registering everyday, fostered by an environment of peace and stability in the country and a new private investment law, that has expanded incentives for investors. Although a majority of U.S. companies remain focused on the oil and gas sector, non-oil sectors have also seen an increased presence of U.S. companies.
Why Invest In Angola?
Since signing the latest peace agreement in early 2002, Angola has experienced 6 years of sustained stability and growth that has been critical to its development and growth. In the past three years, the country has embarked on an ambitions reconstruction program. Luanda, the capital of Angola, has characteristics of a city with a great development potential. The Government of Angola (GoA) views civil construction as the country’s top priority within this new socio-economic context. The Kwanza, Angolan’s currency, has recently been gaining strength increasing an appetite for goods and services within the country. Political and economic stability has opened new and excellent opportunities for investment. In brief, all social, economic and political aspects are favorable to progress.
Area to invest & Benefits
With record oil prices and production, the GoA has rightfully seized this opportunity to diversify the country’s economy and promote private investment. the GoA has attempted to accomplish this challenge through policy reforms, particularly, the establishment of development zones. There are early indications that these reforms have had some success in improving the business climate and increasing investor confidence in the country. To this point, Angola has received lines of credit from China, Brazil, Portugal, Germany, Spain, France and the E.U. GoA is offering incentive packages based on development zones.