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Fri, 18 Mar 2016 10:23 - Updated Fri, 18 Mar 2016 10:23

Chinese entrepreneurs get acquainted with new investment law

Luanda - Angola’s new Private Investment Law was presented last Wednesday, in Beijing, China, to local entrepreneurs, at a gathering that brought together about three thousand potential Chinese investors who work in different parts of the world.

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APIEX director, António Henriques Silva

Photo: Clemente Santos

The law was presented by the director of the Technical Unit for Private Investment (UTIP),  Norberto Garcia, and the director of the Angolan Agency for Investments and Exports Promotion (APIEX), António Henriques dos Santos, at a conference that was organised with a view to attracting investors to Angola.

During the forum, the Angolan managers explained to the audience the aims of the new Private Investment Law, which offers more incentives to private investors.

One of the innovations in the law is that it does not determine a minimum financial amount for foreign investment, contrary to the previous law which set a minimum amount of USD one million.  

Another important information passed by the mentioned Angolan officials is that external investors only get fiscal incentives if they make investments of over USD one million.

In view of the advantages of this new law, the two angolan officials appealed to the Chinese businesspeople to invest in new projects in Angola.

Angola and China established diplomatic ties in 1983, and following the end of the Angolan civil war, the two countries established a strategic partnership.

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