The enactment of a new Foreign Private Investment Law in Angola in May has introduced significant reforms to the investor regime, including raising the minimum thresholds in order to benefit from specific custom, tax and profit repatriation benefits.
Private investment alongside public investment is now a strategic goal of the state for the mobilisation of human, financial, material and technological resource, with a view to the country’s continued social and economic development, the increase of competitiveness, increased employment and the improvement of living conditions.
The aim of the new law, while still open to analysis, is intended therefore to maintain and strengthen foreign investors’ rights and guarantees, as well as to introduce more clear and efficient rules and procedures for the approval of foreign private investment.