Angola with new law to simplify private investment

handshake

All the decision-making process associated with private investment in Angola will become more agile, and that repatriation of capital, profits and dividends will also be speedier. The promisse was made by the Angolan Economy Minister, Abraão Gourgel.

According to the news: “The Economy Minister’s statement was based on a favourable assessment at the joint meeting of the Committees for the Economy and the Real Economy, both linked to the Council of Ministers, of the Proposed Review of the Private Investment Law, which will be taken to the National Assembly”. After the approval of the new Private Investment Law in parliament, National Agency for Private Investment (ANIP) will be charged with monitoring and promoting it.

“Priority areas are Tourism, Telecommunications and Information Technology, Logistics and Transport, Energy and Water, as well as Construction.” and the investment process will be regulated from now on following those priorities, said the Minister,

Foreign investors in those sectors will be required to have a 35% national partnership and the Minister declared that “The new law states that investments up to US$10 million are to be approved by ministerial departments and investments of over US$10 million will be forwarded to the holder of executive power,”

Advertisements

Comment

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s