Wednesday, 29 July 2015

Portugal-Angola: success of new Angolan private investment law

Speaking on the sidelines of the Luanda International Fair, Paulo Varela, chairman of the Portugal-Angola Chamber of Commerce and Industry (CCIPA) expressed contentment at the new Private Investment Law, which was approved this week in the Angolan parliament. Paulo Varela said “Angola needs investment in the productive sector, which requires legislative stability, as well as a stable fiscal framework that is as simple as possible,” and this new Law shall make the process “friendlier” for companies. Previously, Angolan law required a minimum of US$1 million private investment. The new law sets a minimum participation of 35% for Angolan partners and authorization to invest.