Angolan officials shared information on the country’s new private investment law with approximately 3,000 Chinese would-be investors in a conference on Wednesday in China’s capital Beijing, Angolan news agency Angop reported.
The Director of Angola’s Technical Unit for Private Investment (UTIP, in the Portuguese acronym), Norberto Garcia, and the Director of Angola’s Agency for Investment and Export Promotion (APIEX), António Henriques dos Santos, gave a presentation on the new law. The aim of the meeting was to attract investors to Angola, Angop reported.
The Angolan officials said the new law includes incentives for investing in the African nation. It is aimed at channelling investment to certain sectors, in order to help diversify the Angolan economy, the officials said, as quoted by the media outlet.
According to Angop, one of the regulatory changes is that Angola no longer sets a minimum value for permissible foreign investment. Until now the minimum investment has been US$1 million. Tax benefits related to foreign investment will continue to be applied only to investments worth US$1 million or above.
