Angop - Agência de Notícias Angola Press

US businesspeople invited to invest in Angola

Fri, 19 May 2017 10:30 - Economy

Washington - In the last day of his visit, the National Defense minister, João Lourenço, invited Thursday in Washington, American investors to help in the diversification of the Angolan economy, as the country is being hit by financial hardships due to the oil price drop in the international market.

  • Washington: Defense Minister, João Lourenço, addressing the Atlantic Council

Speaking in a meeting at Atlantic Council headquarters with US businesspeople, scholars and strategists of several sectors (Think Thank), the Angolan official pointed out ways to exit crisis and perspectives of cooperation in several domains between the two countries.

The Angolan official stated that Angola seeks to attract the American businesspeople to invest in the sectors of economy, underlining that the country is more than just oil, it goes beyond this mineral.

He added that the country has a lot of potential that unfortunately and for varied reasons it has not been exploited and developed enough.

According to him, a favorable environment will be created in order to boost private investment, adding that he understands the concerns of the investors when seeking countries with good political and social environment for doing business, among others. 

João Lourenço visited the United States at the invitation of Secretary of Defense James Mattis, who signed Wednesday the Memorandum of Understanding that officializes defense cooperation between the two countries.

This legal instrument opens the door to enhanced cooperation, and the parties have committed themselves to the need to combat terrorism, training of staff in the US and Angola, exchange of information and other areas of common interest.

The two countries officially established diplomatic relations 24 years ago and the signing of this memorandum, as explained Defense Minister João Lourenço, and US official James Mattis, opens a new era for the two nations.