Africa-Press – Angola. The Socialist Republic of Vietnam plans to reinforce its investments in Angola, particularly in the south-eastern province of Cubango, starting in 2026, announced Saturday(22) the extraordinary and plenipotentiary ambassador of that country to Angola, Duong Chinh Chuc.
Speaking to the press at the end of a visit to the Cutatu-Cuchi Integrated Mining and Steel Project (PIMSCC), the diplomat expressed “great satisfaction” with what he saw at the company, classifying the activity as “very important for industrial development and for strengthening economic relations between the two countries”.
Duong Chinh Chuc highlighted that the business group present at PIMSCC represents his country’s interest in continuing to invest in Angola and believes that the gesture will open doors for new investments, with the support of various agencies and financial institutions, aiming at more sustainable and diversified activities.
The ambassador revealed that Agribank, one of Vietnam’s largest banks specializing in agricultural financing, is already available to support initiatives in the sector, emphasizing that it is a strategic partner to boost productive projects in rural Angola.
He further stated that, in addition to agriculture, the Vietnamese bank also intends to finance activities related to mining, allowing for the growth of key sectors of the Angolan economy.
“Vietnamese banks will support various sectors, not only agriculture but also mining,” he said.
Without specifying amounts, Duong Chinh Chuc clarified that Vietnam has already begun significant investments in the country, ensuring that the amounts should be increased from 2026 onwards, with the emergence of new projects and greater business involvement.
The diplomat stressed that, with the continued support of the Angolan government, more Vietnamese companies will be able to find opportunities to invest in Angola, strengthening bilateral cooperation ties and contributing to common economic development.
The Vietnamese delegation’s visit to PIMSCC aimed to strengthen institutional exchange and consolidate cooperation relations in the business sector, through the sharing of updated information on the production process of the units that are part of the project.
The program included explanations about the environmental impact mitigation measures already implemented, as well as an informative tour of the greenhouses and seedling nursery, where the planting process of 13 million eucalyptus trees and native species for environmental restoration is underway.
The delegation – composed of representatives from the Vietnamese Sovereign Fund, the two largest banks in that country, business associations and senior officials – also visited operational facilities and attended an institutional presentation on the main milestones of the project, including the goal of expanding pig iron production capacity to more than 500,000 tons per year.
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