News 2 min of reading
Currently, Angola is a country open to the outside world, with great potential for business internationalization. Arlindo Chagas Rangel, president of the Private Investment and Export Promotion Agency of Angola (AIPEX), emphasizes that Portuguese companies can play a crucial role in affirming the Angolan economy, especially in the agribusiness and pharmaceutical sectors.
Governmental stability, reforms that promote a favorable business environment, and the youth of the population are key factors for attracting investment. In turn, Portugal, due to cultural and economic proximity, is seen as the ideal gateway for this investment.
At the conference “Doing Business Angola 2024”, Rangel highlighted Angola’s competitive advantages and growth potential. Angola has exempted 98 countries from visas, including Portugal, to attract more investors and tourists. The country is politically stable, has a young workforce, and is an example of sustainability in the energy sector. Ongoing legislative reforms, including the private investment law, along with tax and customs incentives, make Angola an increasingly attractive destination for foreign investment.
Rangel also highlighted the country’s challenges, such as ensuring food security for the population and developing a pharmaceutical industry to make the supply of medicines more accessible and competitive.
Portuguese companies are seen as essential to achieving these goals due to cultural and linguistic similarities that facilitate economic connections. Portugal is one of the main exporters to Angola and, conversely, Angola is an attractive destination for the internationalization of Portuguese companies. Portuguese know-how is considered a differentiating factor in the decision to invest in Angola, with the ambition of making Portugal the gateway for Angolan exports to Europe.
The Oporto Forte Group, with over 30 years of know-how in international business development and presence in Angola, is ready to support your company in entering the Angolan market. Contact us!