Africa-Press – Angola. The Minister of State for Economic Cooperation, Manuel Nunes Júnior, said Tuesday that the country wants to rely on the experience of the Federal Republic of Austria, to build a “strong” economy and stop depending on exports from the Petroleum.
Speaking at the Angola-Austria business forum, before the Austrian Head of Government, Karl Nehammer, who has been on a working visit to the country since Monday, Manuel Nunes Júnior reiterated that Angola wants to build an economy based on “strong” and sustainable growth.
“Our economy is still very dependent on oil resources and, therefore, it is very vulnerable to external shocks derived from variations in the prices of this product on the international market”, pointed out the Minister of State, maintaining that oil resources constitute more than 60% of the country’s tax revenues and more than 80% of export earnings.
Faced with the situation, he said that Angola wants to end the country’s dependence on oil resources.
Looking at Austria’s industrial potential worldwide, Nunes Júnior invited that country’s investors to invest in Angola and contribute to the diversification of the country’s economy.
“Austrian investments are welcome in practically all domains of the Angolan economy”, he invited.
Focused on the characteristics of the Austrian economy, he said that Angola hopes to promote business partnerships in sectors linked to agriculture, information technology, cybersecurity and digitization, environment and sanitation, education, transport and energy.
According to the official, the Angolan government is very interested in working with the Austrian authorities, in structuring a financing line with favorable terms and conditions, even concessional, with low interest rates and sufficiently long repayment terms.
Addressing the Chancellor once again, he appealed to Austria to help build an economy that is increasingly less dependent on oil, an economy that grows in a sustained and sustainable manner.
He referred that Angola wants economic aid that generates more and more jobs and raises the income of Angolans, an economy that allows fighting hunger and poverty and manages to raise living standards.
“(…) We want to definitively change the economic structure of Angola, in order to have a more diversified economy, an economy in which the private sector starts to have a more active role in the overall performance of the economy and the action decreases in the weight of the oil sector in the GDP”, he stressed.
According to Nunes Júnior, Angola needs to develop businesses such as agriculture, manufacturing industry, fisheries, tourism, construction and other sectors that help to diversify sources of income.
In his view, only in this way will Angola be able to have an economy that manages to show levels of sustainable growth over time and based on criteria of competitiveness and skills.
Nunes Júnior spoke of the ongoing reforms to increase the confidence of economic agents operating in the Angolan economy.
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