Angola’s top economic official praised the “useful” investments made by Chinese companies and their positive impact on improving lives in Angola, reports Xinhua.
José de Lima Massano, recently installed as Angola’s minister of state for economic coordination, made the comment during his speech to the Angola-China Chamber of Commerce (CAC) in Luanda.
Massano highlighted how private Chinese investment has created jobs and improved the lives of people in less favourable situations by providing them with better income opportunities, while helping to transform the country.
Founded in 2016, the CAC has witnessed a dramatic improvement in Angola-Chinese economic relations, with hundreds of Chinese companies now operating in the country and Chinese investment more than doubling since 2020. It currently comprises 112 companies, the majority of which are Chinese.
Luís Cupenala has headed the chamber since 2021, having previously served as its vice president. At the recent meeting, he raised issues and proposals, including streamlining export procedures, enhancing the business environment and investment protection agreements.
Massano noted that the investment protection agreement, already prepared by the respective governments, is expected to be signed soon. He assured the chamber that the Angolan government will continue to work to improve the business environment for foreign companies and promote inclusive development in Angola.