PHD Chamber of Commerce and Industry on
Wednesday organized an Interactive Session with a High-Level Delegation from
Angola in which Minister of Economy, The Republic of Angola, Dr. Abrahao
Gourgel sought Indian investments into his country in areas of agriculture,
energy, infrastructure, mining and transport.
Jointly Presiding over the meeting held under
aegis of PHD Chamber of Commerce and Industry with its President, Mr. Gopal
Jiwarajka in which vote of thanks was offered by Chamber’s Secretary General,
Mr. Saurabh Sanyal, Dr. Gourgel informed that the Republic of Angola has been
growing at an average rate of 4.37% since 2010 until 2016 which offered a
unique opportunity for Indian investors to take advantage of business
opportunities emerging in it.
“In the recent times, the Republic of Angola
has brought in laws and regulations that softened its earlier statute and the
new ones are such as to attract sufficient investments because the new measures
would lead to improving the ease of doing business in the Republic of Angola”,
he said.
According to him, the new rules and
regulations though will take some more time to be implemented but assured the
prospective investors to take optimum benefits of these laws which are
encouraging inbound investments.
The Minister was also of the view that the
Republic of Angola even now encourages investments in public private
partnership spirit as some regulations are there through which foreign
investors can set up their businesses in the Republic of Angola by way of
shedding a stake of 35% to their domestic partners as such business would
sustain within total investments of USD 10 million. However, for large businesses, exceeding USD
100 million, the aforesaid condition is not applicable, clarified the Minister.
In his welcome remarks, President, PHD
Chamber, Mr. Gopal Jiwarajka felt that now time has come when both India and
Angola should come closer to jointly working together for the better well being
of the two countries.
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