Africa-Press – Angola. The Minister of Mineral Resources, Oil and Gas, Diamantino Azevedo, announced this Saturday in Saurimo (Lunda Sul), the creation of fiscal incentives, with a view to attracting more investors in the diamond cutting activity.
Speaking on the sidelines of the inauguration of the 5th diamond cutting factory, at the Saurimo Diamond Development Pole, the official made it known that the tax incentives aim to allow the diamond cutting activity in Angola to be competitive and guarantee more jobs for youth and technology transfer.
He guaranteed that the governing body will continue to work to create better conditions for the industries installed in the hub, thus responding to complaints from companies regarding the lack of tax and other incentives.
He underlined that the international diamond cutting market is essentially dominated by India, where the workforce is highly qualified with low wages.
At the level of the Southern region, he said, Botswana, Namibia and South Africa have had factories, for some time now, in relation to Angola, and with a tax regime that encourages hiring in these countries.
He explained that Botswana recently announced the construction of another 40 diamond cutting factories and that it would further improve the tax regime to attract investors.
Diamantino Azevedo said that the pole contributes to the economic diversification of the country, as, in addition to the direct jobs that are provided, there are undertakings offering indirect ones, as well as opportunities in the area of training and motivation.
He reiterated that, if the market presents good conditions, it is expected, in the next four years, the appearance of more factories, allowing the construction of another Pole in the province of Lunda Norte, with a smaller dimension in relation to Saurimo.
“ The pole has the capacity to install 30 or even 40 diamond cutting factories, depending on the size of each one. Here we have possibilities for small and medium-sized businesses and also for larger businesses when fully operational”, he explained.
Inaugurated in 2021, the Saurimo Diamond Development Pole is a project with an investment of US$77 million, in the first phase, currently with five diamond cutting factories and a SODIAM Training Center that provides courses related to diamond cutting.
It also has the ENDIAMA.EP Training Centre, where they teach various courses in mining prospecting, mining, typography and electromechanics.
Built in an area of 305,185.74 square meters, it is divided into three main areas, namely commercial, industrial and the reserve of the hybrid plant.
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