French investment in Angola totals $15 billion

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A delegation gathering 60 French businessmen visited Luanda this week in order to find new business opportunities in Angola for French private investors. This visit reciprocates the one that President José Eduardo dos Santos made to France last April, when the two countries agreed to increase their mutual cooperation.

Numbers now revealed by the Foreign Minister, George Chikoti, show that direct investment from France in Angola totals over $15 billion and France is now the country’s third largest investor and supplier. According to the online news site ‘Macau Hub’, the Minister also declared that oil company Total is “a good example of foreign investment”.

Minister Chikoti remembered that the adoption of the new Private Investment Law by the Government will help to reduce bureaucracy and to facilitate the legal process, offering several guarantees to private investors, “such as repatriation of capital, tax incentives, equal treatment between of Angolan and foreign nationals and investment protection”.

Finally, the minister also mentioned the the revitalisation of domestic industry as a priority to the Government, resulting in the “creation of the Luanda-Bengo Special Economic Zone (EEZ) and others that will be created in the short and medium term in other provinces”.

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