Africa-Press – Angola. The Angolan President, João Lourenço, visited, this Sunday, four of the largest production units in the province of Shandong, People’s Republic of China, as part of the investor attraction program.
João Lourenço, who has been in China since last Thursday for a three-day official visit, initially learned about the operation of Qihe Biotech’s edible mushroom cultivation base.
It is a high-technology company, which works in research and development, production, sales and exports, in addition to technological demonstration.
The mushroom cultivation base has the capacity to produce, in each of the greenhouses, around 100 thousand kilograms/year. The duration for growth in substrate is around two to three months.
Later, the Angolan Head of State visited the Lutai Group, a supplier of cutting-edge clothing and fabrics, currently considered the largest producer of dyed fabrics in the world.
The manufacturing unit, which mainly produces shirts, has four fabric lines and has 20 sample colors.
João Lourenço also visited Xinhua Medical Instrument Co Ltd, which manufactures high-quality medical products, medicines and hospital supplies.
During the visits, the Angolan statesman learned about the functioning of each of the units and was open to them being able to explore the Angolan market, within the scope of the economic partnership.
In response, Chinese companies expressed interest in exploring the Angolan market, so they could invest and help in Angola’s economic development.
Shandong is a province with a population of around 102 million people. It is the second largest in terms of population, behind Guangdong.
Four decades of Cooperation
Currently, cooperation relations between the two countries have their legal framework based on a General Agreement that has operated, for more than 40 years, in the most varied areas of economic and social life, with a strong presence in the areas of staff training.
The construction and equipping of the Integrated Technological Training Center and the Venâncio de Moura Diplomatic Academy, as well as the awarding of scholarships to young Angolans are some of the actions carried out within the scope of bilateral cooperation.
With a stock valued at US$18,410.2 million, corresponding to 37.27% of Angola’s total external public debt (valued at around US$49,387.7 million by the third quarter of 2023), China remains the largest Angola’s creditor, despite the Angolan Government’s efforts to reduce its debt.
In 2022, trade volume between the two countries was more than 22 million US dollars, an increase of 26 percent compared to the previous year, according to the Chinese Embassy in Angola (one US dollar is equivalent to around 824 Angolan kwanzas ).
For More News And Analysis About Angola Follow Africa-Press
