Posted by: africanpressorganization | 11 July 2011

Major works in Angola: opportunities for Italy


 

 

Major works in Angola: opportunities for Italy

 

ROME, Italy, July 11, 2011/African Press Organization (APO)/ — Development of alternative energy, improvements to road and rail links and the up-grading of the electricity grid. These are some elements of the strategy for Angola drawn up by the African Development Bank, which for 2011-15 has decided to devote 60% of its total budget for the country to infrastructure development. This will be an unmissable opportunity for Italian businesses, underscored the Italian Embassy in Luanda. The Embassy also noted that the bank recently promoted Angola to the rank of “medium-income country”, a status that gives it access to direct loans. To this can be added the Bank’s decision to open an office in the Angolan capital, from July 2011.

The Bank’s strategy for the country envisages financing of around 500 million dollars up to 2014 for specific projects indicated by the development plan. Also envisaged is a flexible credit line providing 50 million dollars in loans for 2011 alone, plus credit lines for private enterprises interested in development projects worth 10 million dollars or more.

Italian companies have at their disposal a new guide produced by the Italian Embassy in May 2011 and setting out investment prospects, customs and tax incentives and an overview of the forms of company envisaged by Angolan law. “A simple, concise handbook”, explained Ambassador Giuseppe Mistretta, who noted that “Angola is a resource-rich country in the oil, agriculture, tourism and renewable energy sectors. All sectors in which Italy has a good story to tell”.

 

SOURCE 

Italy – Ministry of Foreign Affairs


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