MESSAGE FROM THE CBD

Message from the Chairman of the Board of Directors

Following the independence in 1975, Angola was devastated by a war which lasted more than 27 years; in fact, the country only achieved political and economic stability in 2002. Since then, the Angolan government has been making considerable efforts to rehabilitate and build infrastructures, a process which also includes staff training, with the committed help and support of the private sector, which has established itself as the main source of wealth and job creation, just like other large economies.

The Angolan government has implemented a set of measures aiming to improve the business environment in Angola, namely: the approval of a private investment law more adjusted to the current economic dynamics which, among other advantages, includes a more attractive set of tax incentives, the creation of entities that support both the investment and the investor, the service debureaucratization, the establishment of training and support centers for entrepreneurs, as well as location areas, such as EEZs and development poles.

Regarding the legislation, the creation of APIEX, the Agency for Investment, Promotion and Export, was a big change in terms of the investment process. The APIEX supports the growth of a stable and diverse economy, which allows Angola to participate in the global economy in an expressive and competitive way. We aim to attract private investment and support the internationalization of Angolan businesses and their products, in a professional, thorough and honest way, through a truthful and excellent communication.

The Angolan potential hidden in the soil and subsoil is well known, but there is also much to be said about the Angolan people. We are known for our kindness, willingness to learn, creative and inventive spirit, in addition to our ability to move on, even when faced with great adversities. Two thirds of the Angolan population is under 25 years old, just like in other African countries, and they are this country’s driving force. It is crucial that both Angolan and foreign businesses are willing to co-create knowledge, convey know-how and technology for an inclusive social and economic development.

Imbued with this spirit, and hoping to make the investment process less bureaucratic, the Angolan government passed a law that eliminates the need for a minimum value among foreign investors aiming to invest in Angola, and to ensure a strong national business structure. Also, there is now a collaboration requirement equal or higher than 35% of share capital and active role in the management of key sectors, such as energy and waters, hotel business and tourism, transport and logistics, building sector, telecommunications and information technology.

In order to diversify the economy, the private sector is asked to focus on other sectors, such as agriculture, fishing, tourism, timber industry, food industry, light and mining industry, in order to increase exports and reduce imports by increasing local production and commerce.

Despite the great challenges already faced and the many more to come, Angola is the fourth largest destination for foreign investment in Africa. Angola has a population of little over 24 million; however, we are surrounded by countries which have a total of more than 100 million inhabitants, and there is also the SADC’s regional market. Therefore, there is much more to be achieved if there are strategic partnerships with this region’s countries.

We also hope to establish fruitful partnerships with other economies, in addition to the ones we already have historic, geographic and cultural ties with, in order to explore new ways to think and work.

We therefore ask you to “Invest in Angola, Invest in the Future!”.

Thank you.

António Henriques da Silva