Luanda: Japan is aiming to enhance its economic cooperation with Angola, as stated by the Japanese ambassador to Angola, Hiroaki Sano. The ambassador announced Japan's intention to increase investment by Japanese companies in Angola during the Japan-Angola Business Roundtable held in Luanda.
According to Angola Press News Agency, Ambassador Sano emphasized the need to surpass the current involvement of over ten Japanese companies in Angola, despite their considerable investments. He expressed dissatisfaction with the present investment and trade statistics between the two nations, pointing out the potential for expanded relations. The ambassador also highlighted the investment agreements set to take effect in 2024, which will open more opportunities for Japanese firms in the Angolan market.
Jeronimo Pongolola, executive director of the Private Investment and Export Promotion Agency (AIPEX), acknowledged the limited presence of Japanese-backed companies in Angola, despite the longstanding relationship between the two countries and significant public investment. Pongolola noted that Angola's primary focus is on economic diversification, particularly in the area of food security. He reported that since the registration of the first Japanese company in 1995, only six projects have been registered, with an investment value between 300 and 400 million U.S. dollars.
Pongolola also pointed out the legal reforms in Angola designed to increase market appeal. He extended an invitation to Japanese entrepreneurs and those from other regions, emphasizing the resilience of the Angolan economy despite global impacts. The Japan-Angola Business Roundtable commemorated 50 years of diplomatic relations and sought to enhance the presence of Japanese companies and promote investment in Angola.
Current data reveals that trade between the two countries is centered on Angolan oil exports and Japanese imports of machinery, vehicles, and technology, with a trade volume of approximately 400 million U.S. dollars. Cooperation is expanding through investments in infrastructure projects like the Port of Namibe, as well as in sectors such as digitalization, energy, and agriculture.
