Government intends to integrate informal economy into formal

Luanda – The Angolan minister of Economy and Planning, Pedro Luis da Fonseca, said on Tuesday in Luanda that, in view of the non-negligible role of the informal economy, the Government intends to promote its gradual integration into the formal economy.

The Ministry identified the policies and programs that contribute to its materialization.

This was stressed when he was speaking at the closing of the round table on the informal economy that took place during two days, in an 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 reconverting the informal economy, employability and better organization of working conditions.

According to the Cabinet minister, there is a group of the informal sector whose natural tendency is that of its final disappearance, as economic crises are weakened, the productive sector grows and the state is organized.

He pointed out that this assumption also competes with the consolidation of the financial system and a modern business mentality as a rule.

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

During the round table, the importance of the informal sector in the countries of sub-Saharan Africa, informality and the labor market in Angola, as well as informality in Angola, professional qualification, outsourcing and reduction of informality were discussed.

Source: Angola Press News Agency