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Tuesday 22 June 2021
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‘Cut bureaucracy, migration and exchange hiccups to attract investment’

Angola should reduce bureaucracy, migration and exchange problems to become an “investment-friendly country”, the minister of State and C hief of Staff of the Presidency, Carlos Feijo, has said.

Speaking on Friday at a press conference, where he analysed the performance of t he executive in the past quarter, he said being “a friendly country of investmen t means the reduction or elimination of costs, especially bureaucracy, while at t h e same time solving problems of the currency”.

Feijo announced the construction of infrastructure for energy generation with a view to overcoming the energy deficit in the country, saying investment in the s e ctor estimated at about US$18 billion would be made by 2016.

“The state has taken up these investments with the creation of a fund that will be fed with oil revenues of 100,000 barrels/day and based on the rules of nation a l budget.”

The estimate and the investment in energy infrastructures, he noted, show that t he problem related to energy would be addressed by 2016.

To this purpose, the Ministry of Energy will launch a tender to increase power p roduction in the country’s dams to over 4,000 megawatts.

Feijo mentioned the Cambambe dam and the generation of hydroelectric power from M’bridge river in Soyo district, northern Zaire province, saying they will suppl y more than 800 megawatts.

On mining, he said, a policy had been adopted for the sector to increase revenue in order to lessen the burden on the oil sector.

He said the Executive had approved key projects in the exploration of iron, copp er and gold that would yield positive results in four years.

Feijo said a programme had also been approved to revitalise diamond production a nd the updating of system for the sale of the precious metal.

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