António Henriques da Silva
António Henriques da Silva will probably be talking on the sixth Annual Assembly of the African Financial Zones Group (AEZO) on 25 November 2021, in Accra, Ghana.
Chairman of the Board of Administrators of the Luanda-Bengo Particular Financial Zone and Chairman of the Board of Administrators of Angola’s Company for Non-public Funding and Export Promotion (AIPEX)
The Republic of Angola has at all times generated monumental curiosity from traders in all sectors all around the world. Nonetheless, not too long ago the financial adjustments brought on by the sudden drop in oil costs and the devastating impact of the Covid-19 pandemic on world economies, many individuals are questioning whether or not the Angolan market is a secure guess to make their capital worthwhile and solidify their entrepreneurial endeavors.
The reply is, undoubtedly, constructive. With the vaccination course of enabling efficient management of the pandemic in Angola, that is the precise time to put money into the Angolan economic system. Buyers may leverage the sequence of belongings that will probably be privatized as it’s going to enable nationwide and overseas traders simpler entry to an unlimited vary of financial sectors that may generate monumental profitability within the close to future. That is primarily based on a number of components.
The primary is the implementation of a set of financial and social reforms devised by the Govt, whose essential goal is to include the impression of the decline in oil manufacturing, mitigating the Angolan economic system’s extreme dependence on this sector. Funding priorities are actually being directed in direction of different areas, similar to agriculture, agriculture, livestock, mining, vitality manufacturing and water provide, as they’re basic to reaching financial sustainability. This technique has been producing progressive progress within the non-oil sector’s GDP and in keeping with worldwide score companies, this may result in actual progress of 2.9 per cent to the Angolan economic system by 2023.
President João Lourenço’s reforms embrace a struggle in opposition to corrupt practices that had taken root in some fringes of the general public administration. The enterprise surroundings is now far more clear and facilitates funding and entrepreneurship and this has additionally been acknowledged by the IMF, worldwide political leaders and non-governmental organizations who handle this subject. That is additional evident within the Republic of Angola’s rise within the rankings of the Worldwide Transparency Index.
The disastrous results of the pandemic have accentuated the necessity to diversify the Angolan economic system with a extra intense concentrate on non-oil sectors. Financial reforms grew to become much more efficient with the brand new Non-public Funding Legislation of 2018, which positioned all traders, nationwide and overseas, on the identical degree, with the identical entry rights to tax incentives and monetary help. Even the delicate subject of capital repatriation is safeguarded by this legislation, because it ensures overseas traders the precise to switch dividends or different direct funding revenue overseas. And since 2020, the import of capital from overseas traders who intend to put money into Angolan corporations is exempt from licensing by the Angolan central financial institution.
Many nice funding alternatives reside within the Luanda-Bengo Particular Financial Zone (ZEE), which affords numerous high quality providers, producing a wonderful enterprise surroundings for traders. The ZEE has trendy, versatile, unbureaucratic enterprise practices and a dedication to simplifying enterprise approval of latest private and non-private funding tasks.
The ZEE’s administration ensures the best worldwide requirements and, it’s the ultimate on the African continent. That is evident within the wide selection of providers on supply together with, the availability of public transport to all staff, waste assortment, a dependable provide of gas, water and electrical energy, and a safe connection to a state-of-the-art fiber optic community.
With the privatization program of state belongings in full improvement, a lot of that are positioned within the industrial perimeter of the Luanda-Bengo Particular Financial Zone, the Republic of Angola has the required circumstances to obtain overseas direct funding to diversify the economic system, improve home exports, scale back dependence on exterior markets and foster job creation. The ZEE is working in direction of constructing an economic system able to sustainably creating a GDP that’s not primarily based on an extreme dependence on oil.
Sure, haven’t any doubts. Now could be the precise time to put money into Angola!