The government of Angola has passed revisions to the country’s Private Investment Law. The new regulation is intended to make Angola more attractive to foreign investors, grow businesses, benefit trade, and create more jobs.
Before the decisions were made, private Investment Law had required foreign investors to partner with Angolan citizens, public capital companies, or Angolan companies, and hold at least a 35-percent stake in the share capital of the companies. “The revision removes this requirement”, says Zandre Campos, chairman and CEO of ABO Capital on ITNews Africa, while expressing his hopes that the future is bright for Angola’s economy and investment opportunities.
The report underlines that, under the new bill, private investors must employ Angolan workers and provide them with favourable training, salaries, and social conditions, without discrimination. Campos: “This is a great step in providing concrete opportunities for Angola residents and building upon other investment opportunities with high manufacturing intensity.”
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