Mainland-based conglomerate Huafeng Group is planning to invest US$1 billion in Angola over a two- to five-year period, Angop reports.
The Angolan news agency says Huafeng will invest in agriculture, livestock, aviculture, manufacturing, fisheries, aquaculture and pharmaceuticals.
The plan’s details were announced by the president of Huafeng’s administrative council, Zhang Yongaiou, at a signing ceremony brokered by Angola’s Technical Unit for Private Investment, known as UTIP.
The report quotes a UTIP spokesman as saying the deal was strategic to the economy and would generate about 1,500 jobs.
Huafeng plans to focus its investments in several regions, starting with a training facility in Luanda producing agricultural seeds.
