Luanda: The secretary of State for Industry, Carlos Rodrigues, reiterated on Thursday in Luanda the Angolan Executive's commitment to the continuous improvement of the business environment, to attract and expand Indian investment in the country. The statements were made at the opening of the Angola-India Business Forum, which is taking place over four days in the Angolan capital, with the official stating that this intention is part of the ongoing economic reforms and the commitment to productive diversification.
According to Angola Press News Agency, Angola is creating more favorable conditions for private investment, focusing on the development of local value chains, increasing non-oil exports, and strengthening the national manufacturing industry. In this context, Carlos Rodrigues mentioned that the meeting symbolizes the reaffirmation of a strategic partnership that has been consolidated over the years, reflected in a "large and diversified" Indian business presence in key sectors of the Angolan economy.
He highlighted that Indian companies operate in the food industry, consumer goods production, pharmaceutical industry, steel processing and industrial materials, agriculture, tourism, and trade. Additionally, Indian companies are contributing significantly to the IT sector, facilitating job creation, knowledge transfer, import substitution, and boosting the private sector.
The Secretary of State emphasized that Angola is at a pivotal moment in its economic journey, marked by a commitment to sustainable industrialization, economic diversification, and strengthening economic diplomacy. He recognized India as a strategic partner, highlighting its expertise in techs, the pharmaceutical industry, intensive agriculture, and digital innovation.
Carlos Rodrigues further pointed out that Angola offers political stability, a privileged geographical position in Southern Africa, abundant natural resources, and a young, growing market, along with reforms aimed at improving the business environment. The Forum, he noted, serves as a platform to enhance industrial partnerships, develop agricultural and agro-industrial projects, strengthen investments in the processing industry, and consolidate the regional supply chain.
He encouraged long-term productive investments, with local incorporation and training of national personnel, urging Indian companies to position themselves as active partners in the structural transformation of the Angolan economy. He expressed confidence that strengthening business cooperation between Angola and India will contribute to the growth of the manufacturing industry, increased food security, job creation, and the deepening of economic and diplomatic relations between the two countries.