President of the Republic of Angola announces investment opportunities for Turkish investors
The President of the Republic of Angola, João Manuel Gonçalves Lourenço, will give the inaugural speech at the Angola-Turkey Business Forum, to be held at the Ato Congresium Conference Center in Ankara, Turkey, on Wednesday, 28 July 2021, at 9:00 am local time.
President Lourenço, who will address the Turkish business community, will take this opportunity to highlight Angola’s economic potential and the opportunities that the country offers. He will also discuss his government’s commitment to economic growth and development through the private sector as well as the multiple initiatives that have been adopted to improve the business environment.
This Forum is part of the official program of President Lourenço’s visit to the Republic of Turkey and, is the perfect opportunity to inform the local business community and investors of Angola’s new business environment. Numerous ongoing reforms and support policies for private investment and the diversification of the economy have been put in place.
The Chairman of the Board of Directors of AIPEX, António Henriques da Silva, will present the numerous investment opportunities in the Republic of Angola.
Turkey’s Minister of Commerce, Mr. Ahmet, and the President of DEIK, are also expected to present at the Forum.
Around a hundred Angolan and Turkish companies from various sectors are expected to participate in the event.
The Angolan and Turkish business communities will soon enjoy closer ties, with the launch of two direct weekly air connections between Luanda and Ankara through Turkish Airlines.
The Angolan presidential delegation comprises Manuel Nunes Júnior – Minister of State for Economic Coordination, Edeltrudes da Costa – Minister and Cabinet Director of PR, Tete António – Minister of Foreign Affairs, João Ernesto dos Santos – Minister of National Defense and Homeland Veterans, Sérgio dos Santos – Minister of Economy and Planning, Ricardo Viegas de Abreu – Minister of Transport, João Baptista Jorges – Minister of Energy and Water, Manuel Tavares de Almeida – Minister of Public Works and Spatial Planning, Diamantino de Azevedo – Minister of Mineral Resources , Oil and Gas, António Francisco de Assís – Minister of Agriculture and Fisheries, Victor Fernandes – Minister of Industry and Commerce and Antonio Henriques da Silva – Chairman of the Board of Directors at AIPEX.
Over the last 18 years, Turkey has significantly increased its presence in Africa, going from 12 embassies and investments of around USD 100 million in 2003 to 42 embassies and around USD 6.5 billion in direct investments in 2021.
From 2003 to 2019, Turkey’s trade with Africa increased about five times, and, now some 51 African cities are served by Turkish Airlines, which plans to start flights to Angola soon. (Source: issafrica.org and AIPEX).
To date, Angola has registered around USD 200 million in investments of Turkish origin, especially in mining and steel. President João Lourenço’s visit to Turkey will boost economic relations between the two countries and, in the medium term, an increase in Turkish investment in Angola is expected in priority sectors, namely, industry, mining, energy, tourism and transport, in addition to trade, where the two countries already have strong links.
The trade balance between the two countries is unfavourable for Angola, data from the General Tax Administration (AGT) indicate that from 2015 to 2020, Angola’s imports from Turkey was around USD 1,702,737,951.00, while exports from Angola to Turkey in the same period were only 41,960,419.00 USD.
For more information, contact:
PRIVATE INVESTMENT AND EXPORT PROMOTION AGENCY (AIPEX)
Luanda, Angola – www.aipex.gov.ao
