Angola, Land of Endless Opportunities

Angolan Ambassador Albino Malungo contributed the following article on the occasion of the Angolan Independence Day that falls today. Malungo concurrently serves as ambassador to Japan. He resides in Tokyo. ― ED.

Today, the Angolan people celebrate the 33rd anniversary of their national independence. It is indeed a worthy occasion to be cheered and celebrated since it marks the end of centuries of colonial rule in Angola, as well as shaping the foundation of the freedom of the Angolan people from the then-Portuguese empire.

It is a great pleasure and honor on this memorable occasion to extend, on behalf of Angolan President Jose Eduardo dos Santos, the people and government of Angola, my warm greetings to President Lee Myung-bak, the government and people of Korea.

As is widely known and recognized by everyone, Angola is a country blessed and endowed with many natural and mineral resources, including oil, diamonds, iron ore, coffee and water. Its diversified, dynamic and welcoming people, as well as its strategic location in southern and central Africa reinforces its attraction, and makes Angola a ``one-stop shop,'' and an oasis ready to receive business people willing to take part and enjoy the irresistible business atmosphere.

I am therefore proud to note that in six years of peace, we have been able to work toward the economic recovery of the country, which was ravaged by a war that lasted many years, and the maintenance of peace and stability.

Despite the war that affected the country for nearly three decades, Angola possesses premium land capable of bringing the Angolan people to self-sufficiency in most food crops, and becoming a major exporter of coffee and sisal.

The potential remains to redevelop the once very prosperous agricultural sector.

The Korean business community has an open window to play a very important role in pumping in the high-tech equipment and investment that can lead Angola to the position of a country capable of supplying many agricultural products in many neighboring countries.

Angola also has considerable timber resources. Valuable tree species, including rosewood, ebony and African sandalwood, as well as mahogany and mulberry, can be found in abundance in the northern forests that have been untapped since independence.

Angola's 1,600-km coastline offers some of the richest finishing grounds in Africa. The annual catch once averaged 300,000 tons a year.

The government has deregulated fish prices and with World Bank assistance, set up the Angolan Support Fund for Fisheries Development to support the development of the industry.

The Angolan government is mobilizing all its efforts and means to rebuild the entire social and economic infrastructure destroyed during the war, and I cannot think or expect a different role for the government of Korea.

The support in the rehabilitation of economic infrastructure in key sectors such as fisheries, agriculture, transport, and communications, the upgrading and modernization of Luanda, Lobito, Namibe and Cabinda ports, to name a few, are the most evident example of the investment of the Korean government.

I feel the occasion timely to renew our invitation to the Korean business community to take advantage of the prevailing business opportunities and political climate to invest in Angola, or at least to consider the need to know more about the untapped business opportunities offered by the Angolan market.

The Angolan government offers incentives and facilities to all investors in key areas among others in the following sectors of the economy:

― Reconstruction of social and economic infrastructure

― Agricultural, livestock production and food industry

― Mining sector (prospecting and production)

― Fishing and fish processing industry

― Light industry, especially the production of goods necessary for day-to-day life

― Housing and building materials industry

― Communications and IT industry

― Transportation

Please be assured that your endeavor and devotion in exploring the wide range of business opportunities in Angola is a very crucial element in bringing Angola and Korea closer, and in establishing unprecedented understanding between the two peoples.

To the distinguished sponsors, I would like to take this opportunity to express our deep appreciation and gratitude for making it possible for me to publish this timely article about Angola, its welcoming people and the wide range of business opportunities.