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The Federation of Indian Chambers of Commerce and Industry (FICCI) today organised an Industry interaction on ‘Investing in Angola’ with Dr. Abrahao Pio dos Santos Gourgel, Minister of Economy of the Republic of Angola. The minister was accompanied by a high level business delegation comprising of Secretaries of State, Government of Angola in the areas of Agriculture, Industry, Geology & Mining and Transport sector and the Deputy Governors of Bengo, Huambo, Huila and Zaire provinces.
The Minister urged Indian companies and investors to work closely with their counterparts in Angola for the successful collaboration and prosperity of the two countries. He emphasised that the economic diversification that is currently undergoing in Angola has created potential for sustainable growth in the following key sectors such as commercial agriculture, food processing and beverages industry, geology & mining and transports & logistics.
He said that there were numerous investment opportunities available particularly in the Greenfield projects which would help in creating new production capacity and jobs. The minister invited Indian expertise in technology and training & capacity building for the Angolan industry. In this regard, he mentioned that there would be opportunities of collaboration and joint ventures in the private sector or in the public–private-partnership (PPP) mode. Angola has created a conducive business environment including a robust legal framework that would be attractive for Indian investors looking for business opportunities in Angola.
The state secretaries invited Indian companies to invest in the priority sectors. A large number of investment opportunities were highlighted across sectors such as Water and energy: 65 projects, with an investment target of US$ 14.4 billion; Food production and Agro-business: 57 projects, with an investment goal of US$ 2.8 billion; infrastructure, social housing with the goal of construction of more than 300,000 houses with expected investments of US$ 6.3 billion; Transport and logistics: 123 structural projects, with investment targets of US$ 24.4 billion.
The delegation encouraged the Indian industry to consider Angola a potential and profitable destination for the investments and to count on government and institutional support of Angola to make the initiatives a win-win situation for all.