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21/03 2015

Speech at Investment Advisory Council, UNCTAD ( 2006 )

His Excellency the UN Secretary-General
His Excellency the Secretary-General of ICC
His Excellency the Deputy Secretary-General of UNCTAD

Mr General Director of the Word Food Organization

Ministers, Ambassadors
Distinguished Businessmen

Ladies and Gentlemen

New York, 18th September 2006

I am honoured to be here with you today at this Investment Advisory Council meeting, and to share with you some of the main outcomes from Angola on FDI Matters.

Angola has reached its real peace four years ago, and we have been paying special attention to the infrastructure reconstruction and democracy stability.

My Government came to the conclusion that both FDI and PDI (Private Direct Investment) in Angola are central to facilitate the achievements of all development goals, for example, FDI or PDI can be a powerful tool in fighting poverty, through their contribution to a sustained economic growth, enhanced market efficiency, and the creation of employment opportunities. However, in my country, without the international support after 30 years of civil war, we would have even more to accomplish.

As you know, in these past 4 years Angola had a lot of FDI and most of it went to oil industry and mining.

In our national policies we stimulate Foreign Direct Investment, joint venture, Angolanization on the oil sector and mining. We approve the new law on the FDI and PDI which grant a lot of incentives both to foreigners and local people when they invest in our country.

On the IT sector we have started implementing the Angolan ICT Empowerment, giving opportunities to Angolans in these domains.

We invest a lot on education in general in the last four years, but we give special attention to high education, because thus we expect to establish in the country the foreign production capacities using Angolan skilled people.

Angola also formulated specific policies to attract FDI with high technology contents and increase its potential contributions on building local capacities. We continue to work out the policy reformulation on technology transfer through FDI, with focus not only on the material aspect of the investment, such as imports of machinery and equipment, but also on the acquisition of Information and knowledge.

Moreover, my country does not support passive FDI strategy, because in our opinion this is not the best way to build technology capabilities. In addition, another very important area is FDI in R&D, because we can now help countries like ours to strengthen their innovation capabilities.

Ladies and Gentlemen

Let me assure you of Angola’s full commitment to promote FDI and PDI in meeting Angola Development Goals. I extend to you my best wishes for a successful discussion, which will without doubt greatly contribute to review LDCS performances in terms of FDI attractions.

Thank you for your attention

Professor Pedro S. Teta, PhD




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