Luanda: The Minister of Mineral Resources, Oil and Gas, Diamantino Azevedo, reiterated this Wednesday in Lisbon (Portugal) that Angola continues to establish itself as an attractive destination for investment in the oil sector. Speaking to the press following the opening of the 4th edition of "Doing Business Angola"-organized by Forbes frica Lus³fona and Jornal Econ³mico-the minister highlighted the potential of Angola's extractive sector and the event's importance in boosting investor confidence and showcasing investment opportunities within the country.
According to Angola Press News Agency, the dynamism of the extractive sector continues to attract the attention of international investors, as Angola pursues its strategy of maximizing the value of its natural resources and diversifying the economy. He reaffirmed that Angola possesses a highly attractive oil and mineral resource sector, which continues to make a significant contribution to the national economy.
This, he noted, sparks the interest of investors from around the world who are closely watching this increasingly dynamic sector, which plays a key role in the country's economic diversification. He further emphasized that the sector's challenge is "no longer just about increasing production," but above all about creating greater value-added for the national economy.
He stressed that the Executive's strategy aims to move beyond exporting raw materials and instead focus on processing them domestically, thereby generating more wealth, jobs, and development for the country. On the other hand, he argued that the exploitation of natural resources only makes sense if it contributes to improving the population's quality of life and driving the economy's industrialization.
He added that this strategy is being implemented through investments in modernizing refining capacity, boosting fuel storage capacity, building an ammonia and urea plant, and developing new mining projects, all aimed at strengthening industrialization and reducing reliance on raw material exports.
During his remarks on one of the panels, Minister Diamantino Azevedo argued that Angola should present itself to international investors with its own strategic vision. Consequently, he noted, it is up to partners to align themselves with this strategy in a relationship based on mutual benefit and respect for national interests.
"In the extractive industry, we always face challenging moments because geopolitical issues affect our sector. However, we have clearly defined objectives and goals," he stated. The meeting is addressing investment opportunities in Angola, the privatization program, bilateral economic cooperation, and challenges facing strategic sectors-specifically energy, mineral resources, banking, industry, and the energy transition.
The conference featured two panels dedicated to economic relations between Angola and Portugal, investment opportunities, the business environment, and the challenges of bilateral economic cooperation. The official closing ceremony will include addresses by Portugal's Minister of Economy and Territorial Cohesion, Manuel Castro Almeida, and Angola's Minister of Mineral Resources, Petroleum and Gas, Diamantino Azevedo, culminating in the annual tribute to a prominent Lusophone figure. Held for the fourth time, Doing Business Angola has established itself as a key platform for economic dialogue between Angola and Portugal, bringing together government officials, business leaders, investors, and institutional representatives to discuss investment opportunities, Angola's privatization program, economic financing, innovation, and challenges in strategic sectors such as energy, mineral resources, banking, and industry.
The initiative aims to strengthen bilateral economic cooperation, attract private investment, and foster new business partnerships between Angola and Portugal.
