Africa-Press – Angola. The Minister of Foreign Affairs, Téte António, reiterated, Thursday (02), the Government’s intention to strengthen political, financial and business relations with the Federative Republic of Brazil, within the set of fundamental measures that the Executive has taken to simplify economic-legal procedures, making the private business environment more inclusive and safer.
The meeting, promoted by the Embassy of Brazil in Angola, with the theme “Brazil-Angola Economic Partnership: financing solutions”, was preceded by the meeting of the High Level Joint Commission that signed, on Wednesday, a new legal instrument that aims to strengthen cooperation and strategic partnership between the two countries, and not, as was reported yesterday, that they had signed an agreement to avoid double taxation of profits in the international air and maritime transport sectors.
In a note, MIREX reports that it is the Document of the Cooperation Program on Agriculture Development in Irrigated Areas and Family Agriculture. After the signing of the agreement, the Minister of State for Foreign Affairs, Carlos Franco, delivered to Minister Téte António the notification for the entry into force of the Defense Agreement between Brazil and Angola.
At the meeting promoted by the Embassy of Brazil, the Minister of Foreign Affairs, Téte António, presented the picture of the national business environment during the Brazil-Angola business meeting, highlighting that the implementation of the Cooperation and Facilitation of Investments (ACFI) between the two countries creates opportunities in strategic areas, with emphasis on the sectors of Tourism, Agriculture, Manufacturing Industry and Services.
He added that, to this end, the Angolan government had taken initiatives to make the private sector more inclusive. The Foreign Minister recalled that, in recent years, Angola’s priorities have focused on diversifying the national economy. To this end, the “Executive made a specific amendment to the Private Investment Law, an instrument that supports and encourages foreign direct investment and grants various tax incentives, security and protection, as well as guarantees for the repatriation of capital”.
Téte António highlighted, in this particular, the absence of any obligation to have a local partner and the elimination of the minimum monetary amount to benefit the investment incentives. On the occasion, he invited Brazilian businessmen to consider the investment opportunities that the country offers in various fields, with emphasis on agriculture, forestry, fisheries, mineral resources, manufacturing, commerce, telecommunications, hotels and tourism, among others.
Addressing Angolan businessmen, Minister Téte António encouraged them to take advantage of “the opportunity to establish partnerships, which, in his view, bring reciprocal advantages in this competitive business world”.
Satisfactory Understanding
For the Minister of State for Foreign Affairs of Brazil, Carlos França, his country continues to seek, with the Angolan side, a mutually satisfactory understanding on mechanisms to promote bilateral projects, through credits, insurance and export guarantees, which strengthen the economic exchange between the two countries.
Carlos França said that there is a good basis for an understanding, and therefore there is a need for the parties to think about innovating the sources of financing to leverage the joint production activity. “The very significant changes that have taken place in recent years in Brazil and Angola, with regard to bilateral trade financing, represent challenges, for which the private sector must seek innovative solutions,” he said.
In his opinion, guarantees in oil, or in similar procedures, have become undesirable and virtually non-implementable, mainly because they jeopardize future revenues, and, otherwise, explained the Brazilian minister, this would allow investments in development, on the part of of energy input exporting countries.
Carlos França shared, on the occasion, that, within the scope of the Brazilian investment partnership programme, 147 auctions of assets such as ports, airports, highways, railways, electric energy generation and transmission units, fields of extraction of oil and gas, among others, with an expected investment of approximately 170 billion and grants of 30 billion.
“Brazil has carried out very successful missions to attract foreign investors and operators”, concluded the Minister of State for Foreign Affairs of Brazil, Carlos Franco.
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