"Exxon Mobil, Chevron, BP and others have poured billions into Angola in the last decade to unlock petroleum resources in the country’s deep waters, where the vast majority of the oil is, and the payoffs are finally coming in. "
"In recent years, Angola has become the fastest-growing source of oil exports to the United States and, along with Nigeria and smaller West African countries, it is about to become an important component of American energy security."
“Angola is in a growth phase,” said Christophe de Margerie, chief executive of Total, the French oil giant.
"Eni of Italy bid a startling $902 million last year to secure the rights to drill offshore, then the highest fee ever paid by an oil company."
“At that time it seemed crazy,” Eni’s chief executive, Paolo Scaroni, said. “In reality, we feel it was not crazy at all. There are big deposits in Angola. It’s an area of Africa where production can only grow, and we want to be part of that growth.”
"Angola has about 11.4 billion barrels of proven reserves, according to Wood Mackenzie, an energy consulting firm in Edinburgh — about the same as Brazil or Algeria, two medium-size producers, though much less than reserves in the Persian Gulf region."
was reappointed as Minister of Health in the new Angolan government that comes out from the recent general elections, which confirmed the victory of the MPLA party and President José Eduardo dos Santos.
The focus of the new government is the growth of the non oil sector of the economy, reducing imports and increasing th industry and trade inside the country to create more jobs and a better distributuon of income.
The National Agency for Private Investment (ANIP)
signed on Monday five investment contracts, valued at $ 118.8 million.
These are investment projects of enterprises Lucky Line, Snecou Group-Angola, Pratiker, Continente Portugal / Angola and JSY-Angola, from Mauritania, Nigeria, Turkia, Angola and China, signed by the chairman of ANIP, Luísa Abrantes
According to the president of ANIP, contracts signed today have great significance for the Angolans, taking into account the number of jobs that will ensure a total of two thousand 251 citizens. The signed contracts are targeted to areas of construction, manufacturing and trade.
Her assured that the companies that have signed contracts, will entered into operation later this year. The Continente Portugal / Angola company representative, Vasco Rites, with an investment valued at 102 million U.S. dollars for the trade sector, said it plans to open five stores for the marketing of several products.
Angop/SOL October 4, 2012
"... I think he should go there
at least a week or fifteen days
to know the place
and then try to find partners..."
Interview given to an economic journal by Luis Mira Amaral, CEO of Banco BIC Portugal, Portuguese subsidiary of the Angolan bank BIC, and a former Portuguese minister of industry with extensive experience in financial and corporate sector.
EV - But the Angolan market also presents risks and difficulties?
LMA - If there were not difficulties, everybody will be already in Angola. First the visa problem, which, I think, is in the process of being resolved. People have to realize that almost everything is in Angola for making and logistics costs of installation and transport are much higher than in Portugal. The Angolan government expects that the foreign direct investment, and in this, case, Portuguese investment give training to Angolans. That means they must find an Angolan partner, yet that is not required. Then also have to qualify the labor force. Should not be limited to produce, and have to contribute to the enrichment of the Angolan economy in terms of business and qualified staff. Regarding the staff, you can not just think about permanently Portuguese expatriates in Angola, because it costs too much.
VE - What counsel give to an entrepreneur who wants to start activity in Angola?
LMA - I think he should go there at least a week or fifteen days to know the place and then try to find partners that are interesting to develop the business.
LV - What support is that the BIC can give Portuguese companies that want to go to Angola?
LMA - The funding has to be articulated with Banco BIC of Angola. (...)
VE - Let's see more Angolan businessmen to invest in Portugal?
LMA - Yes, and thank goodness, because the more we have the two countries mingled over, Angola will defend the interests of the Portuguese. If there is a strong business presence of the Portuguese in Angola and if mutually Angolans invest in Portugal, who are primarily concerned that things go well for the Portuguese? There are not the Angolans? It is in our interest that there is reciprocity in investment..
Planning and Territorial Development
The recently appointed new government, brought some innovations in the area of planning and economic coordination.
The Ministry of Planning has seen increased its tasks and also began to oversee the Territorial Development.
A well prepared economist with extensive governmental experience, assumed the new position.