Africa-Press – Angola. The United Arab Emirates ambassador to Angola, Salem Al Khamis Obeid, expressed, this Thursday, in Luanda, his country’s interest in investing in the telecommunications, renewable energy and oil and gas sectors, as part of the reinforcement commercial relations and direct private investment.
Speaking at the opening ceremony of the II edition of the Angola-United Arab Emirates (UAE) business forum called “Angola Global Business Forum”, he informed that the trade balance between the two countries stood at 2.8 billion dollars, in the period 2021 and 2022, 90% supported by the flow of diamonds from Angola.
For this reason, the diplomat advanced his country’s intention, from businesspeople, to invest in the transport sector, agribusiness, food processing, storage and the chemical sector.
At the business meeting, which will last three days (until next Saturday), the UAE ambassador to Angola considered bilateral relations to be fruitful, but that work continues to strengthen bilateral relations and increase the trade balance.
“We are eager to reinforce bilateral and economic cooperation, through the creation of more investments, and a strengthening of the culture of the two peoples”, announced the Arab ruler.
On the other hand, the diplomat invites Angolan businesspeople to look at good UAE policies and practices, particularly in facilitating visas, reducing barriers to entry of products, transparency and excellent operational infrastructures of intercontinental dimensions.
On the occasion, the president of the Angola – United Arab Emirates (UAE) Chamber of Commerce and Industry, Braulio Martins, considered this business event “Global Business Angola” as a platform to attract investors, promote business and investment opportunities in the Angolan market .
The forum’s promoter also said that it takes place under the motto, “Business Opportunity” and that during the three days the focus is on the minerals, agribusiness, carbon credit, value chain optimization, real estate and tourism sectors , as well as opportunities in the oil and gas sector.
The president of the chamber considered the commercial relations between the two countries to be excellent and growing, and that Angola has countless potential to attract investors, outside the diamond domain.
With this intention, the chamber has regularly promoted similar meetings between Angolan and Emirati businesspeople, which is already producing positive results, in particular, for Angola.
In this particular, the person responsible exemplified the investment in the exploration of the Port of Luanda, by DP WORLD, in an investment of more than USD 250 million, for 20 years.
Regarding the diversification and increase in commercial exchanges, Braulio Martins said that Arab businesspeople have expressed interest in coffee, agribusiness, real estate, food processing and the supply of machinery and services.
Regarding the investment in tourism for the country, the mayor understands that the entry into operations of Luanda International Airport, scheduled to be opened next November, should boost tourism in the country.
Regarding the 1st edition of this forum, he said that it has produced positive results, as, in fact, two Arab companies have already opened offices in Luanda, one in the real estate sector and the other in mining as well as agribusiness.
Business opportunities in Angola
In this particular, the national director of the Ministry of Economy and Planning (MEP), Manuel Machado Quilende, who, on the occasion, presented the structural reforms underway since 2017, based on the consolidation of the Democratic Rule and Law, as well as the fight against corruption and public administrative modernization.
Likewise, the MEP director highlighted Angola’s geostrategic position for Africa and the world, mineral and natural resources, volume of arable land, the responsiveness of the financial system, supported by 20 commercial banks, present in the country’s 18 provinces.
The person in charge indicated the agribusiness sectors, with a focus on the production of fertilizers, food and equipment, livestock farming and its value chain, the manufacturing industry, logistics centers, the extraction of minerals such as ornamental rocks, gold, quartz, aluminum and diamonds.
The tourism, renewable energy, infrastructure, health, economy and finance sectors were also listed as priority areas to benefit from foreign direct private investment.
And, to materialize these opportunities, at the event, the head of the Investment Promotion and Attraction department of the Private Investment and Export Promotion Agency, Bruno Baptista, presented to potential investors the facilities of the Single Investor Window and the Electronic System of Private Investment Processing.
According to him, these tools enable the process of processing private investment proposals and the interaction between investors and public administration bodies with influence on the private investment procedure.
“The country offers business opportunities in all areas, with the advantage of investors being able to transport the surplus of their local production to the Southern and continental region”, he asserted.
In turn, the executive administrator of the Luanda-Bengo Special Economic Zone (ZEE), Adriano Borjas, said that the number of UAE companies has grown in this industrial hub, in the field of technology, electronics and plastics processing.
At a time when ZEE has 95 companies in operation, out of 177 installed, the administrator hopes that this forum will promote the attraction of new partners from the United Arab Emirates.
On the other hand, Adriano Borjas reiterated that this year, in the ZEE, 23 projects were launched and it is expected that eight more, this year, will begin their operations and, thus, meet the administration’s goal, which established the target of 100 companies in actual operation.
The commercial director of Sociedade Mineira de Catoca, António Zola, clarified that the largest diamond sales showcase is in the UAE, absorbing 70 to 80% of the company’s annual production.
According to the director, Catoca produces, annually, six (6) million carats per year, however in terms of commercialization, the diamond market is facing a global crisis, where there are already restrictions on the receipt and processing of rough diamonds.
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