Angola: Spain wants to finance national projects

Luanda – The Kingdom of Spain intends to finance, with USD 2 million, at least 41 national private investment projects identified by the Technical Unit for Private Investment (UTIP) in the sectors of industry, agriculture, tourism and construction.

The information was released on Thursday by the director of the UTIP, Norberto Garcia, according to which investors have the global value of two million dollars, intended to be spent in the implementation of national private projects.

The official, who was speaking at a working meeting between the groups of Spanish financiers and Angolan businessmen, stressed that the projects have already been identified and will later be oriented towards their implementation.

They, he said, “are legible by the conditions established by the financiers, especially the market guarantee”.

He pointed out that the UTIP has been promoting several working meetings on private investment projects with a view to finding investment funds in the international market, especially for those projects that do not have financing.

Norberto Garcia added that Thursday’s meeting aimed to establish partnerships between Spanish and national companies, strengthening the relationship between the main business associations of the two countries, boosting the economy and responding positively to the objectives of economic diversification.

The representative of Cyrus Empire Funds, Pascal Valentin, expressed the interest of his organization to create the first investment fund in Angola for the development of private projects, with a view to the economic and social growth of the country.

He stressed that the fund will be made available to the Angolan business area, with a view to developing economic activities.

Pascal Valentin explained that the main objective is to develop the various sectors of the Angolan economy, namely agro-industry, energy and infrastructures.

The working meeting between groups of Spanish funders and Angolan entrepreneurs, led by UITP director Norberto Garcia, is a result of good relations between the Republic of Angola and the Kingdom of Spain, aiming to strengthen the good business environment between the two countries.

It also aimed to establish partnerships between national and Spanish companies, strengthen the relationship between the main Angolan business associations, especially in the sectors of industry, infrastructures and agriculture in its aspects of fruit growing, cereals, legumes and vegetables.

Cyrus Empire Funds, located in Madrid, Spain, is an investment fund dedicated to the African Continent, aimed at increasing economic and social development.

Source: Angola Press News Agency