Angola – An Agenda for Change
     Angola's institutional framework is changing, with a political and macro-economic 
     agenda focused on development, transparency and inclusion
      A.    Full Commitment to Transparency and Anti-Corruption practices
      B.    Control of Budget Deficit, already with positive results and growth of the 
            Net International Reserves of Foreign Currency
            Economic Stabilization Plan (approved by IMF ) impacting positively with 
      C.    reduction in inflation and convergence between formal and informal exchange 
            rates
            Schedule for Privatizations of Public Companies being finalized, with future 
      D.    impacts on efficiency, public spending and on a pure market oriented economy
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   The Role of the State in the Economy
   The role of the State has undergone changes of paradigm, being that it is the Private 
   Sector’s responsibility of development, diversification and economic inclusion
                                               STATE
       S  • Supervision and regulation - segregation of State agencies’ 
       N     responsibilities (regulator vs. participating party in the economy (ex. new Oil 
       O
       I
       T     & Gas Regulation Agency) 
       C
       N
       U
       F  • Promotion the right business environment for private investment (ex. 
        
       E
       R     Implementation of new Competition Law) 
       O
       C  •
             Promoting the right infrastructure for economic development 
        E
      L V
      L I
      A T
      R C             GROWTH AND ECONOMIC DIVERSIFICATION
      E E
      V J
      O B
        O
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    Business Environment
    Continuous improvement of the business environment is at the top of the Executive’s 
    agenda, already with visible results on the Doing Business ranking
     Doing Business Angola – Ranking evolution
     (2015 = Baseline = 183º)                                                       Examples of Ongoing Initiatives
                                                                  rd
                                                         173
                                                                                     Starting a Business - Reduction from 8 to 
                                                                                     5 procedures, scrapping of minimum capital 
                                                                                     requirement and public deed.
              rd                                                                     Construction Permits - New electronic 
          183                                                                        platform that has accelerated license 
    2015           2016           2017           2018          2019                  issuing
                                                                                     Registering Property - New Law for the 
      Main areas of Improvement (2016-2019):                                         Simplification and Modernization of 
                                                                                     Building, Commercial and Notarial Records 
               Getting Electricity             Trading Across Borders                (8 days for certificate issuing)
              “… eased with the             “…export & import eased by 
             modernization of the                                                    Protecting Minority Investors - New laws 
              Luanda power grid”              implementing ASYCUDA”                  related to good governance practices
              Starting a Business                   Paying Taxes                     Trading Across Borders - ASYCUDA 
               “…eased with the                                                      implementation (automated system for 
            scrapping of minimum                   “paying taxes                     customs data)
             capital requirement”               eased & less costly”
     Source: Doing Business
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    New Private Investment Projects
    The new context already has positive impacts, with private investment intentions 
    rounding 569 M USD, in the last 6 months alone
     Private investment proposals registered in AIPEX
     (million of USD, August - December 2018)
        Total:     569
                                                                                                                     270
                                                                                                      110
                                                          32             65             68
              4             10             10
           Turism        Education       Health        Services        Fishing         Trade       Agriculture      Industry
       Main investors :                     249 M                             215 M 
                                             USD                               USD                           57 M USD
                                                                 Multi-country investors
     Source: AIPEX
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    Addressing Private Investment concerns
    Several key initiatives are in place addressing major concerns from private investors
              New Private Investment Law, that caters for significant tax benefits, eliminates 
       1.     previous constraints on the form of company ownership and reaffirms the investors rights for 
              repatriation of dividends, royalties and invested capital, and the new Competition Law
             AIPEX, the Private Investment and Export Promotion Agency, 
       2.    that provides one stop shop services to investors and can act as a facilitator in all required interaction 
             with other Government agencies and ministries
       3.    Visa Processes Changes, that have been simplified and can be easily and faster 
             obtained for investors
             Commercial Banks’ Access to Foreign Currencies, where changes 
       4.    have been introduced and there has been a steady offer of foreign currency through competitive open 
             tender processes, with offer exceeding demand
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