Luanda — Investments by French companies in Angola amounted to around US$35 million over the last five years, an average of US$7 million/year, according to data from the Private Investment and Export Promotion Agency (AIPEX).

Speaking to the press, after the business meeting between the French business class and those responsible for AIPEX, held this Friday in Luanda, the director of this Angolan agency, José Sala, referred that most of these investments were applied in the trade, manufacturing and services.

Despite these investments, the official considered the presence of French investors in the country still insufficient, a fact that requires the strengthening of the bilateral ties in order to change this scenario.

According to the AIPEX director, it is hoped that this situation can be reversed with the work visit of the French President to Angola, Emmanuel Macron, who brought a delegation of businesspeople interested in investing, essentially in the agricultural sector, one of the main priority areas of the Angolan government.

To this end, he continued, AIPEX will monitor companies that have already expressed clear intentions to invest, registering their proposals.

On balance, the source underlined that the interaction maintained with the French business class, for two days, was positive, as it made it possible to assess that most of the investors’ intentions are aligned with the priority areas of the Angola’s government.

On his turn, the president of the French Business Movement (MEDEF International), Jérémie Lecha, was greatful with the business opportunities that Angola offers, having assured that he will work towards the realization of the intentions expressed by French businesspeople.

He considered the Angolan business environment as favourable for the materialisation of several projects presented by investors.

The business meeting between AIPEX and the delegation made up of 13 French companies was part of the visit of the French President to Angola.

Within the framework of the partnership established between private sector companies in both countries, priorities have already been defined, such as maize, cassava, soy, cotton, cereals, coffee, livestock, among others.

Available data show that more than 70 French companies operate in Angola.

Oil exports from Angola to France are around US$400 million.

France intends to change and deepen commercial ties with Angola, within the scope of the Angola’s ongoing economic diversification.

Priorities include issues linked to industrialization, particularly in the fields of logistics, distribution and agribusiness.

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