In order to eliminate the delays associated with implementation of private investment projects in the country especially in the economic sector, the Angolan government has announced a new mandatory 45 days time-frame for implementation after approval.
Forty-five days is the time required for the implementation of a private investment project in the sectors of economic activity in Angola, aimed at reducing bureaucracy in the investment programmes in the country.
This was announced Friday in Luanda by the director of the President’s Civil Office Technical Unit for Private Investment (UTIP), Norberto Garcia.
He added that the intention is to avoid excessive bureaucratization in setting up investment projects in the country and give greater comfort to national and foreign investors.
The official was speaking during a press conference to announce Angola/China Investment Forum, taking place on 7-8 November at Luanda’s Talatona Conventions Centre (CCTA).
Norberto Garcia added that Angola became the first country in the CPLP, to hold a meeting of this kind after the cooperation Forum between China and the Portuguese Speaking Countries, recently held in Macau.
It is UTIP responsibility to receive and analyse the investment proposals exceeding the equivalent in Kwanzas of USD 10 million.
Source: Footprint to Africa