Luanda:President Joao Lourenço has reaffirmed his commitment to enhancing domestic production, industrial processing, and organized commerce as part of efforts to develop Angola's national economy.
According to Angola Press News Agency, during his State of the Nation address at the National Assembly, President Lourenço emphasized the importance of increasing exports, creating jobs, and building a resilient and diversified economy. He stressed the need for discipline, strategic vision, and coordination among the State, private sector, and productive communities to make industry and commerce key drivers of family prosperity, national competitiveness, and balanced development in Angola.
The president highlighted the government's strategic priority to increase the utilization of installed industrial capacity to 65% by 2027. He noted that financing would be directed towards projects with a significant productive impact, aiming to diversify the industrial base beyond the current focus on the food and beverage sector.
Efforts to formalize trade and reduce the informal sector from 85% to 69% are part of a broader goal to create over 200,000 jobs. The Program to Support Production, Export Diversification, and Import Substitution (PRODESI) has already disbursed over 1.298 trillion kwanzas, supporting 6,300 projects and creating more than 100,000 jobs.
Lourenço also mentioned the 'Transforma Aqui' program, which has established small-scale processing units in rural areas to add value to agricultural output and bring industry closer to communities outside urban centers. Further developments include projects for an Aluminum Industrial Park and an Integrated Industrial Park, each receiving approximately 250 million dollars in investments.
The president pointed out the approval of a new legal framework for industrial development hubs, aiming to improve management, attract private operators, and boost productive activity. Rehabilitation efforts for rural industrial parks and significant work at the Viana and Biópio hubs are ongoing, with the latter having strategic potential for export-oriented production due to its connection to the Lobito Corridor.
Additionally, the development of a National Cereal Reserve and the construction of an edible oil refinery in the Barra do Dande Free Zone are underway to attract both domestic and foreign investment. An investment agreement for the Dande Port Terminal, estimated at 450 million US dollars for its first phase, has been signed to facilitate the export of goods produced within the free zone.
