2023-08-31 09:49:46
The volume of trade between Angola and the United States of America (USA) dropped from US$20.9 billion, recorded in 2008, to the current US$2.3 billion, representing a decline of more than 90 percent.
Without detailing the reasons for this decline, the president of the American Chamber of Commerce in Angola (AmCham-Angola), Pedro Godinho, recalled that most of the value recorded in trade between the two countries resulted from the export and sale of oil.
Speaking to the press, at the end of another Business Forum, which served to celebrate the sixth anniversary of AmCham-Angola, he pointed to the strengthening of the improvement of the business environment in the country as one of the necessary mechanisms to reverse the current commercial and economic framework. between both countries.
Specifically, he pointed out the facilitation and speed in the processes for the entry of potential investors in the country as one of the aspects that must be improved, in order to attract more American companies.
For this reason, he suggests that businesspeople interested in investing in Angola be granted access within 24 or 48 hours, similar to what happens in dozens of countries around the world where Americans also have investments.
For Pedro Godinho, it is also necessary to start thinking about the possibility of exempting entry visas for investors, as in other regions of the world, with a view to the growth and socioeconomic development of Angola, a country that has the potential to make part of the group of 30 most developed countries in the world (G30), according to the Americans.
“Improving the business environment in Angola constitutes a very important premise for attracting more American investors to the country, a fact that will diversify and expand commercial exchanges”, he said.
In view of this scenario, the president of AmCham assured that he will continue to work with the Angolan government authorities, in order to improve the specific aspects that have made it difficult for more investors to enter Angola.
In addition, the source guaranteed that his association will prioritize the transfer of knowledge from the US to Angola, through technical-professional training and investment in academia, also including the cultural aspects of both countries, taking into account the historical-historical similarity. culture that unites the two peoples.
On the other hand, he considered positive the performance of AmCham-Angola during the six years of existence in the country, as it is fulfilling its purpose, which is based, essentially, on the enhancement of commercial, economic, cultural and academic relations.
As a result, he highlighted, the country currently has the presence of 60 American companies operating in various areas, with emphasis on six in the oil sector and the rest operating in sectors such as construction, telecommunications, services, among others.
Furthermore, he referred that the intermediation of Am-Cham has also contributed to the travel of different entities and representatives of American financial institutions to Angola, in recent years.
As an example, last July, the president of the Exim Bank of the United States of America (USA), Reta Jo Lewis, who made available US$900 million to invest in the renewable energy sector in Angola.
Additionally, he recalled, the Development Finance Corporation (DFC), a Development Fund for US private companies, is also available to finance US$250 million for the Lobito Railway Corridor (Benguela – Angola), which will connect the Atlantic Ocean and the Indian Ocean, passing through the Democratic Republic of Congo (DRC) and Zambia.
American companies interested in investing in Angola
On the occasion, the US ambassador to Angola, Tulinabo Mushingi, underlined that, in 2023, at least 14 companies had expressed interest in investing in various sectors of the Angolan economy.
According to the diplomat, these investors are increasingly close to transforming their business projects into reality, as a result of the cooperation of the Angolan government authorities.
Among the various sectors in which these companies operate, he highlighted the installation of silos for the storage of agricultural products, as well as the construction of 186 metal bridges as priority infrastructure for investors.
Along with these investments in sight, the ambassador stated that there is still a long list of American businessmen interested in investing in Angola.
“In addition to security and good governance, we are promoting a new Angola, which needs a new strategy for attracting investors. Therefore, if the business environment improves, many American companies will come to invest in the country”, he warned.
In addition to businessmen, members of the Angolan Government participated in the AmCham Business Forum, held on Wednesday night, in Luanda, which was attended by a delegation of 60 American citizens linked to the Wiliam Tucker Society, which brings together descendants of the first Angolans to arrive in the US, over 404 years ago.
Among the personalities present at this event, the presence of the former Vice President of the Republic of Angola, Bornito de Sousa, also stood out.
As a special guest was the chairman of the Order of Engineers of Angola (OEA), Paulino Neto, who presented the strategy to strengthen cooperation between Angolan and American specialists.
The American Chamber of Commerce in Angola is an affiliate of the United States Chamber of Commerce, founded by President William Taft in 1912.
AmChams are present in more than 118 countries around the world and aim to promote cultural, academic, commercial and economic ties between the United States and its partners.QCB/AC
#Trade #Angola #falls #US2.3 #billion