ANGOLA TO INTEGRATE INFORMAL ECONOMY INTO THE FORMAL ONE

LUANDA– Angola’s Economy and Planning Minister, Pedro Luis da Fonseca, says that in view of the significant role of the country’s informal economy, the government intends to promote its gradual integration into the formal economy.

The Economy and Planning Ministry has identified the policies and programmes needed to contribute to achieving such integration, he said here Tuesday when speaking at the closing of a two-day roundtable on the informal economy which was held at the initiative of the Sagrada Esperanca Foundation.

Pedro da Fonseca highlighted the policy of business environment, competitiveness and productivity, and of employment and working conditions, the latter aimed at converting the informal economy, employability of its participants and better organization of working conditions.

According to the Minister, there is a group of participants in the informal sector whose natural trend is that of its final disappearance, as economic crises weaken, the productive sector grows and the State is better organized. This will take place along with with the consolidation of the financial system and a modern business mentality as a rule.

He added that the formal organization of all the informal sector is a guarantee that formal systems of employment security and social security and crisis prevention can ensure a minimum income that the informal system is apparently in a position to do.

During the roundtable, the importance of the informal sector in the countries of sub-Saharan Africa, its informality and the labour market in Angola, as well as informal business activities in Angola, professional qualifications, outsourcing and reduction of informality were discussed.

Source: NAM NEWS NETWORK