4 June 2011
Luanda — The co-ordinator of the Commission for Restructuring of the National Private Investment Agency (ANIP), Aguinaldo Jaime, on Friday in Luanda said that in the new Investment Law the facilities and incentives will be negotiated case by case with each investor.
According to the official, this move will be materialised on the basis of a series of factors clearly outlined in the law, so there will be no problem of discretionary attitudes.
“The process is not entirely discretionary, there are factors that will mark out the awarding of incentives, such as the volume of the invested capital and created employment, the quantity of goods to be produced, the possibility that the project might generate exports to other markets and the type of technology to be employed” explained the official during a meeting with bankers, customs representatives and architects.
According to the new law, he said, the minimum value of investment is one million US dollars, contrary to the previous USD 50,000 and USD 100,000.
“There will be a single system in which the investment is only allowed if the investor provides a minimum value of one million US dollars”, he explained.
He also said as the zone of invest becomes more remote the law will also treat that more favourably.
“Let’s wait to see how the market will react to this new instrument”, he emphasised.
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New Investment Law to Provide Incentives Case By Case