Business

While much of the world has been preoccupied with the impact of the European debt crisis, Angola has been forging ahead with reforms aimed at helping it recover from its own debt crisis in 2009. Under the auspices of an IMF standby agreement, Angola's leaders have improved macroeconomic stability, rebuilt foreign exchange reserves and paid off a substantial pile of overdue debt.

The government has also revamped the country's investment incentive scheme to make it more selective and effective, and established a new public-private partnership system to encourage private investment into much-needed infrastructure development.

A long-standing complaint of foreign investors was the challenging business environment—Angola was, in the past, one of the most difficult countries in the world in which to operate. But the government has been making a concerted effort to streamline processes for setting up and running a business, including establishing a one-stop-shop system for companies looking to invest.

The reforms had positive results. Helped by high oil prices, Angola’s economy is expanding strongly, with GDP growth having the potential to hit double digits within a year.

As part of its effort to diversify the economy away from its heavy reliance on the oil industry—which currently accounts for an estimated 85% of the country's output—the government is offering incentives to encourage companies to invest in other industries. The key sectors into which the Government hopes to entice foreign investment include agriculture, fishing, transportation infrastructure, energy, water, telecommunications and tourism.

For more information and details on Angola's business opportunities, please contact on This email address is being protected from spambots. You need JavaScript enabled to view it. or visit the home-page of the National Private Investment Agency of Angola: 
http://www.anip-angola-us.org/