Investment Policy Review - Angola

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FDI in Angola has been highly volatile and concentrated in the extractive sector. Initiatives to improve investment attractiveness are hampered by various challenges affecting the policy environment. The IPR provides action-oriented recommendations to create an environment conducive to investment and leverage the FDI potential to progress towards sustainable development. The report contributes to the Government’s efforts to achieve the dual objective of graduating from least developed country (LDC) status and meeting the SDGs.

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The investment framework

Since 2017, the Government of Angola has intensified the implementation of reforms aimed at improving the business climate. These include investment facilitation, business establishment, property registration, taxation as well as governance. The reform efforts have positively influenced the perception of the private sector and lay the foundation for improved investment attractiveness, including in non-oil related activities. However, entry restrictions limiting access to several sectors remain in place, and operational constraints continue to affect the cost of operating businesses in the country, thus reducing the impact of reforms. This chapter aims to support the ongoing efforts to diversify the economy through FDI and non-equity investments by making recommendations to improve investment policies and address remaining gaps. Based on the IPFSD – the UNCTAD’s Investment Policy Framework for Sustainable Development, this chapter analyses the regulatory and institutional framework for investment in Angola (UNCTAD, 2015a). It then proposes a series of concrete recommendations to be implemented over the short, medium and longer term to assist the Government achieve the objectives of the PDN 2018–2022 and sustainable development.

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