Sights Set on Laying Foundation for Development

Angola is not a closed country to the outside world. Angola maintains diplomatic relations with countries around the world on the basis of true cooperation and mutual gains.

We maintain the best relations with the Bretton Woods Organizations, the International Monetary Fund (IMF) and the World Bank. The last IMF assessment on the Angolan economy confirms the success that we have made reference.

All these achievements give us the credibility of a responsible and competent government, which is a necessary condition for the establishment of international partnerships, both at institutional and business level.

We are witnessing an increase in foreign direct investment and the world economy's growing interest in Angola, which is a result of the growing international credibility, hard-earned with our work.

According to the government's strategy, there are two key priorities: investment in human capital and the rehabilitation of economic and social infrastructure. This is strategy is being implemented through:

― Thousands of roads have been built in the recent years, which has increased the circulation of people and goods inside the country and helped strengthen national cohesion.

―Modernization and expansion of ports and airports networks, as well as railways.

― A number of ongoing projects for production and distribution of electricity, with the construction of dams and mini-hydro.

― Construction of a telecommunications system, based on the latest technology.

― Program for the creation of special economic zones and industrial estates, investing in production chains and agro-industrial construction.

― Construction of social infrastructure such as schools of various levels, universities, health centers, hospitals around the country

The world is in deep financial and economic crisis of large proportions. This crisis affects all countries of the world, including the Angolan economy, mainly in the following aspects:

1) Reduction of oil and diamonds revenues, as a result of reduction of their export prices.

2) Decreasing activity, investment, profitability and employment in the oil and diamonds sectors.

3) Reduction of foreign financial flows, both in the form of ODA, as in the form of foreign direct investment.

4) More difficult access to external financing.

5) Pressure on the foreign reserves of the country causing flow reduction of foreign exchange.

The government of Angola will continue its path of economic growth, notwithstanding slowing the pace in an environment of macroeconomic stability and a growth rate above the population growth rate which is estimated at 3 percent.

This is Angola's real growth per capita, and it will continue to show positive growth rates.

It is of fundamental importance to enable it to continue its programs to fight poverty, misery, and develop key projects in the areas of rehabilitation of economic infrastructure and social, to promote productive activity and to continue its program of institutional reforms.

In addition, it's being taken austerity measures, diversification of the economy and accuracy on expenditures, as follows:

― The reduction in public spending on goods and services, whilst the minimum expenditure;

― Acceleration of the program of financial restructuring and reorganization of strategic public enterprises;

― The diversification of the national economy, increase in net exports and replace imports of products that can be produced domestically and improving the balance of payments;

At a time, when the world is experiencing one of its greatest economic and financial crisis is the auspicious time to bet on an emerging market such as Angola.

Angola is experiencing a period of impetuous reconstruction, and has put on political and social stability. It shows numerous business opportunities, having a great interest in achieving high technology.

In January 2010, we will organize the African Cup of Nations. The eyes of Africa and the world will be put on Angola.

We are open to share the major international investments for this project, and it has to be performed by the private sector, particularly in tourism infrastructure.

Investment in Angola is not only worthwhile, but also a safe investment. The Angolan government has been taking measures to strengthen national institutions aimed at the capture of foreign capital and promoting private investment.

The National Agency for Private Investment (ANIP) is going through internal legal reformation for better to meet conditions on foreign investors and national economy demands.

Currently, Angola is in a period of discussion for possible approval of the new constitution of the country.

And with the participation of all political parties and civil society, it is intended that the new constitution is approved before the presidential elections.

We hope that with these brief words, somehow we demonstrated that Angola is a "country with a bright future" and worth being invested.

Before the world had already overcome the current economic crisis, it's recommended to invest now.