Africa-Press – Angola. The Secretary of State for Land Transport, Jorge Bengue, has reassured Lobito Corridor investors in the city of Lobito (Benguela) about the stability of the business environment and return on investment.
The official made the statement during a press conference held by the American delegation following the US-Africa business summit,adding that entrepreneurs who arrive now, as well as financial institutions, could be well positioned in the Lobito Corridor.
“Ten years ago, we had a lot of difficulty attracting investment, so we began by reformulating our regulations, creating conditions that would facilitate better security for those who came to invest in our country and also from the point of view of the processes in our public institutions,” he explained.
The Secretary of State said that these changes were made based on complaints over the years.
“Our priority is to make all the necessary investments based on private sector involvement,” he reiterated.
Benguela governor, Manuel Nunes Junior, expressed his hope that the US-Africa business summit had been very useful for investors to see part of what the Lobito Corridor is and that it could promote development, not only in the region, but throughout the country.
“We are all very satisfied and hope that the Lobito Corridor will bring development to agriculture, fisheries, industry, and tourism, create many jobs and good wages to improve the living conditions of these people who are in great need,” he emphasized.
The Lobito Corridor has a 1,344-kilometer railway line, crossing the center of the country, from Lobito (Benguela) to Luau (Moxico Leste).
It is one of the main routes for the transport of raw materials, products, and goods, not only within the countries it crosses but, above all, because of the connection it establishes with the international market through the Port of Lobito.
This infrastructure accounts for a high percentage of the international trade volume of the entire sub-region.
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