Africa-Press – Angola. The Minister of Finance, Vera Daves, pointed out, this Wednesday, two fronts to boost the development of infrastructure projects in the country, but with financing “as cheap as possible”.
According to Vera Daves, who was speaking at the Dialogue Table of the Angola/Spain Business Meeting, the partnership will have to advance on two fronts, the creation of efficient basic infrastructures for the creation of a “good” investment environment and the attracting direct private capital for investment in various projects, including agribusiness, fisheries and industry.
One of the ways, which is the financing of infrastructures, Vera Daves says it is important that it happens, but without failing to defend the achievements already achieved in the context of the sustainability of public finances.
“For us, it is important to defend the continued sustainability of public finances, so we want to continue to seek financing, as cheaply as possible”, defends Vera Daves, who asks for the support of the Spanish authorities in accessing credits/banks, so that it is possible to follow the path of increasing development and infrastructure projects.
But at the same time, he added, the country does not want to jeopardize what it has already achieved in terms of the sustainability of public finances.
The minister also defends infrastructure projects for the country that help anchor the country’s growth, having invited Spanish and Angolan businessmen to help identify the set of projects that help to contribute to the growth of the desired economy.
“As much as we invite you to partner with us, in implementing the diversification agenda, if a set of basic conditions does not exist, such as access to electricity, drinking water, roads and highways, it becomes much more difficult, and we are aware of that” , admitted the official, for whom the private sector is the main engine of economic growth.
Debt ratio in decline
The Minister of State for Economic Coordination, Nunes Júnior, who also took part in the business meeting, reiterated the continuous recovery of the economy, in recent times, a period in which there is balance in the internal and external accounts, as well as the reduction of the public debt, in relation to GDP, which went from 134% in 2020 to less than 70% in December 2022.
With the economic growth that is taking place, with less debt needs and the fact that fiscal surpluses are being registered, he said that the public debt ratio will continue to reduce.
The focus is now on economic growth, increasing national production, intensifying the diversification of the national economy, a job that admits to be difficult and complex.
He said to the Spanish businessmen that there are several investment opportunities that Angola offers, and calls for investment, taking into account the facilities already created.
businessmen bet
The managing director of the Spanish company DT.Global, María Garron, considers the meeting a reinforcement of the partnership between the two countries.
Acting in the water sector in Angola for four years, he said it was important to see the reaffirmation of Spanish companies as work and business partners in various areas.
The company, with an investment of four million euros in Angola, plans to reinforce actions in the water and sanitation sector and invest in renewable energies, which are expected to be implemented shortly.
The director general of the Angolan company Candy-Factory (confectionery), Frederico Crespo, said the forum between Angola/Spain is a sign that the business environment is improving and there are many businessmen who come to explore the Angolan market, which he considers positive.
“We have to create opportunities and then create partnerships with Spanish businessmen”, he said, pointing to opportunities for investment in the transformation of agricultural products.
The businessman predicts the attraction of a lot of private investment in the coming years, with emphasis on Spanish.
The president of the Association of Industries of Angola (AIA), José Severo, highlighted the economic diplomacy efforts that the President of the Republic has dedicated to Spain, which in his view has responded very well.
In his view, Spain is working on a very imperative and real strategy, auguring good expectations, but defends that the business community of that European country believes more in Angola.
“We have areas in which they are very present, such as energy, with internationally renowned companies, but we do not feel the presence of Spain in the mining sector and in agriculture and agro-industry, which we need”, pointed out the businessman.
Other areas that Spain could invest in are linked to the production and processing of coffee, reforestation in the south and east of Angola for the production of cellulose, with a view to reducing the cost of importing paper, which is around US$400 million/year, when Angola was already an exporter as part of the Altocatumbela project.
The president of the Industrial Association of Angola (AIA) also points to investment areas such as salt processing, sodacaustic production, which Angola imports every year, paying US$200 million, and fruit growing, given that Spain is a large producer of concentrates in Europe.
According to José Severino, opportunities for investment in Angola exist in several areas, such as cotton, which according to the businessman can be produced in Huíla, Benguela Cuanza Sul, Bengo, as well as Malanje.
Representatives of Elecnor and the Spanish Conference of Business Organizations (CEOE) also shared their work experiences at the forum, witnessed by the President of Angola, João Lourenço and the King of Spain, Felipe VI.
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