The Hague, The Netherlands

ECONOMY

The Angolan economy has generated enough wealth so that their GDP per capita is estimated at considerable levels, above the threshold that separates the low-income countries of middle income countries, particularly because the oil has been a major weight on the Angolan economy.

According to the latest World Bank forecasts, the growth of gross domestic product (GDP) in Angola, is 7.2% in 2013; the State general budget (OGE) predicts 7.1%. The World Bank forecasts indicate Angola as the eighth country in sub-Saharan Africa that more will grow this year, while the figure in the list of emerging countries with higher growth rates. This growth is due to the existence of natural resources (minerals), especially oil and diamonds; It also has deposits of copper, manganese, phosphates, salt, mica, lead, Tin, gold, silver and Platinum.

In addition to iron ore, Angola has phosphate deposits, estimated at 150 million tons, located in the provinces of Cabinda and Zaire. These features have been so far unexplored. In southeastern Angola in the provinces of Namibe and Huila, abound the reserves of marble, granite and quartz. Marble is especially consumed in the local market, while the black granite is on demand and exported to the u.s. and Japanese markets.

It should be noted that the Angolan oil sector has been over the years the main support of the national economy, as a result of the development of a strategy that allowed it to attract prominent investors, having also been the driving spring for the development, growth and diversification of the national economy.

The main industries of the territory beyond the petroleum refining, oil processing, cereals, meat, cotton and tobacco. Noteworthy, too, the production of cement and wood. Among the industries of tires, fertilizers, cellulose, glass and steel.

Angola also enjoys a considerable agricultural potential, having a climate, soil and topography suitable for modern

and large-scale agricultural production of a wide variety of cultures. In addition, the country has an important hydroelectric, forest and fishing potential.

The railway system of Angola is composed of 3 main ferreas lines; Caminhos de ferro de Luanda, Caminhos de ferro de Benguela and Moçâmedes Railway (Namibe) connecting the coast to the interior, the most important being the Benguela railway, which connects with the lines of Katanga, on the border with Congo.

The road network connecting the main cities. Are the busiest ports of Luanda, Lobito, Benguela, Namibe and Cabinda. The February 4 airport, located in the country’s capital (Luanda) is the center of airlines that put the country in touch with other African, European and American cities and Asian.

Investing in Angola

After a long war and deeply destructive that lasted more than three decades, Angola has followed, with success, a model of development that aims at the construction of a modern knowledge-based society, open to the exterior, with the presence of national and foreign direct investment and greater market intervention, private initiative and competition.

Angola continues to be a viable business opportunities market, these opportunities arising from political stability, a prerequisite for a good business climate and economic stability of the country.

Foreign investment has the doors open to participate in the Angolan development plan. Investing in Angola can be the option for companies and groups looking for new challenges.

There is a new law of private investment in Angola, approved in April 2011, this law regulates private investment in Angola, with emphasis on external investment and contains all information relevant to national or foreign investors.

November 2017
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