Germany plans to invest in Angola
Germany plans to invest in Angola in the energy and water, public works, hotel and transport sectors, the German Economy and Technology Minister, Michael Glos said in Luanda Monday.
The minister, who was speaking at the signing of a memorandum of cooperation between Angola and Germany, said that his government’s interest and that of German businesspeople from several business areas also extended to the areas of hydroelectricity, and construction of oil and gas pipelines. Glos said that Angola was a trusted partner in economic relations, as it had always fulfilled the agreements signed with Germany and he also announced that offices for German businesses would be opened soon in Angola. Via the cooperation agreement signed, Germany will provide Angola with credit of €1.1 billion ($1.6 billion) to be applied to economic activities and investments.
„This amount will serve to modernize the Angolan manufacturing sector and the human capacity to transform the economy, whilst the government focuses on meeting Angola’s commitments to the main Paris Club creditors,” said the Angolan finance minister, José Pedro de Morais, according to Angolan news agency Angop. Glos, who was in Angola for a two-day visit, was accompanied by two members of the German parliament and 50 businesspeople. (macauhub)
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.