New Laws & Regulations on Private Investments

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The Angolan government has been steadily withdrawing from direct participation in the economy in order to facilitate economic activity throughout the country.  The private sector is being invited to participate in the state utility, telecommunications and insurance companies.  New regulations where adopted to reduce or eliminated business taxation.  The government has removed fuel subsidies and pledged to continue the successful floating exchange rate.  New Laws were adopted to give additional incentives to foreign investors.  These include fiscal incentives, industrial and customs tax exemptions in order to promote and facilitate private investments.  These reforms combined to create an improved business climate.

Investment Incentives

General Incentives

The following are a few of the current investment incentives:

* Foreign companies are guaranteed equal treatment;

* Nearly all sectors of the economy are now open to foreign investment;

* Special fiscal incentives are offered to foreign investors who employ a high proportion of Angolan employees;

* Profits, dividends and the proceeds from the sale of investment may  be transferred abroad by foreign investors; and

* Investments less than US$5 million no longer need prior government  approval.

Export Incentives

Angola has one of the highest volumes of exports in the SADC region, largely due to exports of oil.

There is much under-utilized potential in other areas however, such as diamond mining, coffee and fishing.

The promotion and diversification for exports have been recognized by the government as one of the ways to facilitate production and growth.

Investment Guarantees

The New Private Investment Law sets the general basis for the private investment in the country and the principles of the regime, as well as the procedure of access to incentives and facilities being offered by the Angolan State.

It also makes provisions for an equal treatment for local and foreign investors, for the repatriation of capital and juridical protection of intellectual and industrial property.

Private property rights were introduced in 1993 following a revision of the country's Property Law.  Angola is a member of the United National Agency for the Protection of Foreign Investments in all Countries (MIGA).