Angola sees import substitution a business opportunity

Angolan head of State João Lourenço described the substitution of imports as “a great business opportunity” that Angola offers to private investors, as part of the ongoing process of economic diversification in the country.

In his Facebook page, the Angolan statesman states that the country’s geographic position should continue to be explored as a major gateway to the entire Southern and Central African region.

The Head of State underlined the fact that Angola is a market with available younger work force, an expanding electricity grid, fertile land and abundant water.

The Angolan Government approved, through Presidential Decree No. 169/18 of 20 July, the Programme for Support Production, Diversify Exports and Substitute Imports (PRODESI), aimed to speed up the diversification process of the national economy.

In order to achieve this goal, the programme focuses on promoting production and exports in the non-oil sectors, as well as in sectors with a strong potential for replacing imports.

PRODESI’s priority sectors are food and agro-industry, mineral resources, oil and natural gas, forestry, textiles, clothing and footwear, construction and Public Works, Information Technologies and Telecommunications, Health, Education, Training and Scientific Research, Tourism and Leisure.

Source: Angola Press News Agency (APNA)