Angola: Head of State visits special economic zone
Accompanied by the Government official, João Lourenço was briefed on the investments and the current condition of the project.
The Head of State assessed the operation of Vedatela, Mangotel, Ninhoflex, Mecametal, Medvida, Angola Cabos, Galvanang, Coticash, Inducarpim, MTBT, Indupackage and CSG, respectively, designed to manufacture of metal towers, mattresses, hospital support material, electric cable production and car assembly.
The minister of Economy and Planning, Pedro Luís da Fonseca, said that the territorial planning of economic development is based on different assumptions.
He focused on the need for rational use of the assets, mainly when related to the public funds from the State Budget, in the context of scarcity.
The minister noted that macroeconomic stability is crucial for economic growth, due to its impact on financing and investment decisions.
As for the promotion of the competitiveness of the companies and their expansion in the domestic and regional markets, the minister considered important in diversification of the economic structure.
He said this initiative helps reduce trade deficit, broaden the tax base, facilitate integration in international markets with a positive impact on economic growth, job creation and poverty reduction.
The official also said that the creation of Industrial Development Hub is one of the measures to attain active policies of industrialisation.
Luanda/ Bengo comprises 21 land reserves, seven of which are industrial, six are agricultural and eight mines, scatered in Luanda, with stress to the municipalities of Viana, Cacuaco and Icolo e Bengo.
In Bengo province they are in Ambriz and Barra do Dande. It has a total area of 416,000 hectares.
The State-run oil company Sonangol invested USD 472.9 million in infrastructure between 2011 and 2014.
The operating costs totaled USD 385.7 million.
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