Africa-Press – Angola. The Minister of State for Economic Coordination, Manuel Nunes Júnior, said this Monday in Luanda that Angola must change the current paradigm and convert the private sector into the engine of economic growth in the country.
According to the minister, who was speaking at the opening of the training course in science, technology and innovation policy for sustainable development, the State should focus on activities of economic regulation and coordination of the country’s development.
Referring to the main lines of the country’s Long-Term Development Strategy for the next 27 years (Angola 2050), he said that it is the action of the private sector that will contribute to reducing the weight of the oil sector in Angola’s GDP .
In this way, according to the Minister of State, the country will be able to have an economy that manages to show sustained levels of growth over time and based on criteria of competitiveness and efficiency.
For the Minister of State, the country cannot have sustained levels of economic growth over time when the oil sector represents more than 95% of export revenues and more than 60% of tax revenues.
In a word, he said, Angola is dependent on a product whose price it does not control and therefore the country’s entire development will depend on fluctuations in the price of this product on the international market.
He underlined that the diversification of the economy in the country is an ongoing process but that needs to reach a greater speed, depending largely on the levels of productivity of production factors.
Among the production factors, Manuel Nunes Júnior considered human capital as the most important, as it enables the country to reach the levels of organization, production and innovation necessary for the sustained development of the productive base.
“Without an adequate level of human capital, Angola will not be able to reach the levels of efficiency and competitiveness necessary to have a dynamic, strong and highly innovative economy capable of providing Angolans with the highest standards of living compatible with the level of wealth generated. by society”, he exhorted.
For her part, the Minister of Higher Education, Science, Technology and Innovation, Maria do Rosário Bragança, said that this course is the next step in the study that was carried out on the ecosystem, innovation and entrepreneurship of Angola with the support of the Nations conference United Nations for Trade and Development.
He added that the training will enable all players in the national system of science, technology and innovation to be able to implement the recommendations of the study on the ecosystem of innovation and entrepreneurship.
Close to 40 trainees from the government, the business sector, private non-profit organizations and higher education institutions are taking part in the course, which ends on the 26th of this month.
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