Luanda: Two hundred companies, including small, medium, and large, from the industry, commerce, and service sectors will participate in the first edition of the Luanda Economic and Social Fair, to be held from 23 to 31 this month, in the country’s capital, a source from the organization said on Monday. The organization foresees the creation of 700 temporary jobs and an estimated turnover of 250 million kwanzas, and registration for exhibitors began in April and extends until the 15th of this month.
According to Angola Press News Agency, speaking at a press conference to present the fair, the head of the Department for Business Development of the Ministry of Industry and Trade, Manuel Oliveira, said that the holding of the fair is the result of the poor dissemination of local production, which often goes unnoticed. The event will take place at Largo do Soweto, in the municipality of Rangel, in a promotion of the Federation of Business Associations of Luanda (FAEL), in partnership with the Ministry of Industry and Commerce, and aims to stimulate strategic collaboration between large industries and national entrepreneurs, as well as encourage the purchase and consumption of products made in Angola.
Associated with this, he added, is the pressing need to promote formality among entrepreneurs, to leverage economic activity in the country. He stressed that at the exhibition, institutions such as the Institute for Support to Micro, Small and Medium Enterprises (INAPEM), the General Tax Administration (AGT), and the National Bank of Angola (BNA) will be available to entrepreneurs for the formalization of businesses and opening bank accounts.
The leader of the Mercantile Association of Small and Medium Canteens of Angola (AMPMCA), Omar Tour©, underlined the importance of the event, considering that it will contribute to the creation of bases for a new direction to commercial sustainability in the province. The fair also includes lectures on various topics related to business formalization, digitalization, and access to credit.