China was one of the top three investors in Angola from 2018 to 2022, according to the African republic’s investment agency, Aipex.
From 2018 to March 2022, the United Arab Emirates led foreign direct investment (FDI) in Angola, with US$351.7 million, followed by the United Kingdom, with US$283.1 million, and China (US$225 million), according to figures quoted by Jornal de Angola.
Germany ranked fourth (US$93.6 million), followed by France (US$36.8 million), Belgium (US$24.5 million), Hong Kong (US$20.5 million), Portugal (US$19.2 million), Eritrea (US$12 million) and Switzerland (US$10 million).
Aipex estimated that, during the period, total FDI in Angola reached US$2.7 billion, with 234 projects, from 48 countries.
Major FDI projects were linked to sectors such as mining, financial activity, telecommunications, civil construction, education, health, tourism, fishing, agriculture, commerce and industry.
Among the projects financed by the United Arab Emirates is a factory for the assembly of agricultural tractors, inaugurated in 2020 by President João Lourenço, in the Luanda-Bengo special economic zone, CLBrief reported.
