Angola is one of the fastest growing economies in the World;
The population (20 million people) is an essential element of the economic growth;
The real gross domestic product of Angola growth was 3.4%;
The Angolan economy is predominantly agricultural;
Top Angolan agricultural products are coffee, sugar-cane, sisal, maize (corn), coconut oil and peanut;
Angola is rich in minerals, such as diamonds, petrol, iron;
Huge copper, lead, phosphate, salt, gold, silver, and platinum deposits;
The main Angolan industries are petrol, cereals, meat, cotton, sugar, beer, cement and wood;
The Ministry of Tourism reported the entry of 194,326 tourists from Portugal, South America, France, Brazil, the UK, and the U.S., which spent $ 97 million.
Angolan Petrol Sector
With a 750,000 barrels per day production, Angola is the second-largest producer in Africa (after Nigeria);
Analysts point to a 1,000,000 barrels per day production in the coming years.
Advantages of Angola.
A strong Government engagement applying economic and political reforms, leading to a free-market economy;
Respect for the private property and legal guarantees for the investors;
Abundant, available labour and skilled young people;
Accessibility to the raw materials and energy resources (natural gas);
Strategic location (access to the Central African Markets).
Angolan Foreign Trade:
Angola imports (products and services): 5 million dollars. The largest Angolan imports are:
Machinery and electrical equipment;
Vehicles and parts;
Medications;
Food;
Textiles;
Sugar-cane;
Coffee;
Sisal;
Maize (corn);
Cotton;
Cassava root;
Snuff;
Vegetables;
Livestock;
Fish and fishery products.
Angola exported 14.5 million dollars (FOB). The largest Angolan exports:
Petrol and derivates;
Diamonds;
Gas;
Coffee;
Sisal;
Fish and fishery products;
Wood;
Cotton.
The largest ports of Angola: Port of Lobito and Port of Luanda.
The nearest foreign port (Southern provinces on Angola) is the Port of Walvis Bay (Namibia),
via the Trans-Cunene Corridor
Foreign direct investment (FDI) in the Republic of Angola is governed by LAW no.11/03 of 2003.
The National Private Investment Agency is the institution responsible for
the
international promoting, coordinating, implementing and regulating the foreign direct investment policies in Angola;
To bring the foreign direct investment into Angola, the Government of Angola has defined a policy of preference on foreign direct investment (FDI), which will increase the export products while replacing or reducing the imports.
Sectors on which the Government is focusing:
Agriculture and livestock;
Food products;
Mining;
Fisheries;
Light industry;
Industrial materials for construction and public work.
(c) EENI Global Business School (1995-2023)
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