Dubai: Angolan President Joo Louren§o highlighted on Tuesday in Dubai, United Arab Emirates, his country's ongoing structural reforms, which have had a significant economic and social impact. These reforms are aimed at improving the business environment and attracting private investment.
According to Angola Press News Agency, during the launch of the Global Summit on Investment in Africa on the sidelines of the World Government Summit, Louren§o stated that Angola has privatized over 100 companies since 2019 that were previously publicly owned. This strategic move has generated new opportunities across various sectors, including energy, transportation, and finance.
Louren§o also addressed efforts to simplify administrative procedures by establishing the Single Investment Window and modernizing the legal framework to enhance transparency and investor protection. He presented Angola's main strategic sovereign assets to global investors, highlighting its status as one of Africa's largest oil producers and its goal to diversify its energy matrix to achieve 70 percent renewable energy sources by the coming year.
Focusing on the mining sector, Louren§o noted Angola's abundant resources, particularly diamonds, gold, and critical minerals. He stressed that the structural reforms bolster transparency and create a favorable investment environment within the sector.
The president further identified agriculture and agribusiness as priority sectors receiving government incentives to boost national production and ensure food security. In infrastructure, he highlighted the Lobito Corridor, alongside new port and airport concessions, strengthening Angola's role as a regional logistics hub.
Joo Louren§o also pointed to advancements in the digital economy, emphasizing the opening of the information and communication technology sector to private investment and the modernization of financial services to meet future demands.
