{"id":12567,"date":"2024-07-02T07:44:21","date_gmt":"2024-07-02T07:44:21","guid":{"rendered":"https:\/\/gbc1.net\/?p=12567"},"modified":"2024-07-06T09:08:36","modified_gmt":"2024-07-06T09:08:36","slug":"investment-promotion-agreement-between-angola-and-china-comes-into-force","status":"publish","type":"post","link":"https:\/\/gbc1.net\/index.php\/2024\/07\/02\/investment-promotion-agreement-between-angola-and-china-comes-into-force\/","title":{"rendered":"Investment Promotion Agreement Between Angola and China Comes into Force"},"content":{"rendered":"\n

On 29 June 2024, the Promotion and Mutual Protection of Investment Agreement (#PMPIA<\/a>) between China and Angola came into effect. This follows the signing of the agreement by Angola Foreign Minister Tete Antonio and China Minister of Commerce Wang Wentao in Beijing on 6 December 2023.<\/p>\n\n\n\n

Commenting the milestone event, the Angola Private Investment and Export Promotion Agency (AIPEX<\/a>) CEO Neide dos Santos expressed hopes for increased Chinese #FDI<\/a> which will bring more jobs and revenues to Angola. <\/p>\n\n\n\n

The PMPIA is a version of what is generically known as an Investment Promotion and Protection Agreement (#IPPA<\/a>) that two countries typically sign in order to boost investment and the confidence level of investors.<\/p>\n\n\n\n

\n

“Large-scale investments bring better jobs and higher revenues for companies and our country. For businesses, they mean a more stable and predictable market with greater security for Chinese investments.”<\/p>\nAIPEX CEO Neide dos Santos <\/cite><\/blockquote>\n\n\n

\n
\"FDI
FDI Into Angola During 2018-2023<\/figcaption><\/figure><\/div>\n\n\n

It is worth noting that China already ranks as the 6th largest source of #FDI<\/a> into Angola during the past few years. Chinese enterprises operate in a variety of sectors such agriculture, fishery, infrastructure, health, mining, oil & gas, and trade.<\/p>\n\n\n\n

According to statistics compiled by AIPEX, Angola has registered 48 expressions of interest for investment from China since 2018, which eventually materialized into a cumulative #FDI<\/a> of nearly USD 300 million. <\/p>\n\n\n\n

Angola publicized its National Development Plan (NDP) 2023-2027 at the end of 2022 and approved by Presidential Decree 225\/23 on 1 September 2023. The #NDP<\/a> complements the Long-Term Strategy of Angola 2050 (#LTS<\/a>).<\/p>\n\n\n\n

Among the flagship projects, we may note the Luanda Metro Project<\/a> and the exploitation of Angola’s vast reserves of petroleum. However, the #NDP<\/a> also calls for a diversification of the economy away from hydrocarbons in order to avoid over-reliance on a single sector.<\/p>\n","protected":false},"excerpt":{"rendered":"

On 29 June 2024, the Promotion and Mutual Protection of Investment Agreement (#PMPIA) between China and Angola came into 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