twitter RSS Feed linkedin acp contact

Angola set to boost economic diversification and agri investment

Angola’s Ministry of Trade, the Ministry of Economy and Planning and UNCTAD discussed reforms to boost FDI for economic diversification during the presentation of the investment policy review (IPR)

Angola agriThe country is promoting inclusive agricultural mode of production. (Image source: Peter Casier/Flickr)

A more diversified FDI portfolio and the targeting of the FDI projects better aligned with Angola’s needs could go a long way in supporting the achievement of the national development objectives.

The government has put in place an ambitious programme to reform the business and investment environment. The IPR identified remaining gaps and bottlenecks including the complex system for FDI entry and establishment, burdensome operational regulations, the persistence of restrictive business practices and a lack of institutional capacity and coordination. These gaps and bottlenecks affect the country’s ability to fully take advantage of its strategic location, abundant natural resources and preferential access to external markets.

The IPR devoted special attention to investment in agribusiness and its contribution to sustainable development. It calls for concrete measures to foster responsible investment and promote inclusive agriculture modes of production. The recommendations emphasise the need to strike a policy balance between food security and export development objectives, improve access to land and infrastructure, and promote entrepreneurship and skills development.

In his opening speech, Manuel Neto da Costa, minister of economy and planning, said, “FDI used to be neglected and this created a negative cycle for the economy. Many of the problems we face are addressed by the IPR.”

The IPR was undertaken by UNCTAD as part of Train for Trade II – a four-year project financed by the European Union. The project aims to help the country strengthen and diversify its economy prior to its graduation from least developed country status in 2021.

In parallel to the national workshop to discuss the IPR, and as a first step for the implementation of its recommendations, UNCTAD conducted a two-day training session. The goal was to build the capacity of government officials on investment promotion and facilitation as well as on policies for responsible investment in agriculture.

UNCTAD has supported more than 50 developing countries and economies in transition by conducting investment policy reviews over 20 years. It has provided technical support to implement the IPR’ recommendations.

Studies show that UNCTAD’s Investment Policy Reviews have helped countries attract and benefit more from increased FDI, while improving business climates.


LATEST NEWS IN Agriculture

African food imports bill predicted to double by 2030

African food imports bill predicted to d…

Experts have warned that the cost of Africa’s yearly food imports could increase from US$50bn to US$110bn by 2030 if immediate measures aren’t taken to increase food production

Wildlife and forestry sector in the spotlight

Wildlife and forestry sector in the spot…

On August 22, the 23rd session of the African Forestry and Wildlife Commission, hosted by the Government of the Democratic Republic of the Congo opened in Kinshasa, putting the future...

Boosting investment for Africa-made cotton

Boosting investment for Africa-made cott…

At a partner’s conference on cotton, jointly organised with the World Trade Organization (WTO) and the UN Conference on Trade and Development (UNCTAD), donors were urged to mobilise resources for new partnerships.   

Nature-based solutions help farmers in Ghana

Nature-based solutions help farmers in G…

Organic pesticides, waste-based fertilisers and forest regeneration are just a few of the green initiatives being employed in Ghana to boost farming communities’ resilience to the impacts of climate...

Boosting soil nutrient mapping in sub-Saharan Africa

Boosting soil nutrient mapping in sub-Sa…

The Food and Agriculture Organization of the United Nations (FAO) is set to fast track an impact-oriented project in sub-Saharan Africa and Central America for digital soil nutrient mapping, after...

Gambia-Korea partnership seeks to double rice production to curb food insecurity

Gambia-Korea partnership seeks to double…

President Adama Barrow has received a delegation led by the Korean Ambassador to The Gambia, HE Kim Ji-Joon, at the State House in Banjul to announce the delivery of sample rice...

Prev Next

OTHER RELATED ARTICLES - Agriculture

Exploring the use of Blockchain technology to improve food security in western Kenya

Exploring the use of Blockchain technolo…

AgUnity along with partners Virginia Tech and Egerton University deploy custom smartphone and OS solution to producers, traders, and retailers in Western Kenya

Microinsurance to help Ethiopian farmers protect against drought

Microinsurance to help Ethiopian farmers…

Farm Africa is piloting the use of microinsurance to help pastoralists in the Ethiopian lowlands protect their livestock

MEA bio-stimulants market witnessing high demand due to shrinking area for cultivation

MEA bio-stimulants market witnessing hig…

The demand for organic products and methods is rising in the Middle East and Africa (MEA) as countries within the region focus on improving agricultural yield

8 Miles invest in Africa's leading fresh fruit producer

8 Miles invest in Africa's leading fresh…

8 Miles LLP, the pan-African Private Equity firm, announced an investment in Blue Skies, a UK-incorporated business with operations in several African countries that is the leader in the production...

Kenyan farmers welcome Kibaki’s order on fertilisers

Kenyan farmers welcome Kibaki’s order on…

Farmers in Kenya have praised the country’s president, Mwai Kibaki, for his instruction to the government for the issuing of US$35mn to import subsidised fertiliser

Boosting farm productivity is crucial to unlocking Ethiopia’s agricultural potential

Boosting farm productivity is crucial to…

Ethiopia’s agricultural sector is the bedrock of the economy, employing more than 70 per cent of the workforce, accounting for more than a third of GDP and serving as the...

IITA focussed on boosting Tanzanian cassava crops

IITA focussed on boosting Tanzanian cass…

Tanzania's minister of agriculture, food security and cooperatives, Christopher Chiza, has said that cassava will play a major role in improving the lives of farmers in the country

Zimbabwe earns more than US$1bn profit from tobacco

Zimbabwe earns more than US$1bn profit f…

Zimbabwe earned more than US$1.2bn from its tobacco industry this year, tobacco industry and marketing board director Dr Andrew Matibiri has revealed

Ghana to promote bamboo biofuels

Ghana to promote bamboo biofuels

The Ghanaian government has said that it will offer support to bamboo growers as it aims to decrease the country’s carbon footprint

Namibia green scheme to target barley farming

Namibia green scheme to target barley fa…

More of Namibia’s green scheme projects are to be used to cultivate barley, it has emerged this week

Eni, Ghana inaugurate business and agricultural training project

Eni, Ghana inaugurate business and agric…

Italy’s Prime Minister Giuseppe Conte, Ghana’s Senior Minister Yaw Osafo-Maafo and Eni’s CEO Claudio Descalzi have inaugurated the Okuafo Pa Agricultural Training Centre in Dormaa East

Nigeria refocuses on farming as oil money shrinks

Nigeria refocuses on farming as oil mone…

Nigeria is turning to farming as dwindling oil income has driven the economy to the brink of its first full-year contraction in more than two decades

Prev Next