Angola has received 596 investment proposals worth an estimated US$21.8 billion over the past five years, with about 80 percent of the projects originating from Chinese investors, according to Arlindo das Chagas Rangel, chairman of the board of the Private Investment and Export Promotion Agency (AIPEX).
Speaking at a conference in Portugal on March 6, Rangel said the investment proposals highlight Angola’s growing appeal to foreign investors as the government continues implementing economic reforms and privatization programs aimed at improving the business climate and diversifying the economy.
According to the Angola Press Agency (AngOP), Chinese investors accounted for roughly 80 percent of the total proposals received during the five-year period. The data reflects the strong economic ties between Angola and China, particularly in sectors such as infrastructure, energy, and natural resources.
Portuguese companies also showed interest in Angola’s investment opportunities, submitting 72 proposals valued at approximately US$92.6 million. Details about the remaining proposals were not disclosed, but officials said the investments span several sectors of the economy.
Angola has been actively introducing reforms to attract foreign capital and improve investor confidence. Since 2019, the government has privatized more than 100 state-owned enterprises, opening new opportunities for private investors in sectors including energy, transport, and financial services.
According to the United States Department of State, the country’s privatization program has generated around US$1.1 billion in revenue so far and is expected to continue through 2026 as the government seeks to reduce the role of the state in the economy and promote private-sector growth.
One of the most notable recent infrastructure developments linked to Angola’s investment strategy is the concession granted for the Lobito Corridor. In November 2022, the government awarded a 30-year operating concession for the project to a consortium of Swiss, Portuguese, and Belgian companies, beating a competing Chinese bid.
The Lobito Corridor includes a 1,300-kilometer railway line that connects the Port of Lobito to the town of Luau near the border with the Democratic Republic of the Congo. The project is expected to play a key role in regional trade by linking mineral-rich regions of Central Africa to Atlantic export routes.
In addition to privatization initiatives, Angola has introduced a new private investment law designed to make the country more attractive to foreign investors. The legislation reduces minimum capital requirements for investors, simplifies procedures for repatriating profits, and removes a rule that previously required local investors to hold at least a 35 percent stake in certain projects.
The government has also streamlined administrative procedures through a digitalized “Single Window for Investment,” which allows investors to complete many regulatory processes through a centralized platform. Authorities say the reforms aim to improve transparency, strengthen investor protection, and reduce bureaucratic barriers.
Despite efforts to diversify the economy, Angola’s oil sector remains the primary destination for foreign direct investment. As one of Africa’s largest crude oil producers, the country continues to attract international companies interested in exploration, production, and related energy infrastructure.
Officials believe the ongoing reforms and infrastructure projects will help broaden the economy beyond oil while creating new opportunities in sectors such as logistics, manufacturing, agriculture, and financial services.
By attracting significant foreign investment proposals and strengthening regulatory frameworks, Angola aims to position itself as a competitive destination for international capital while supporting long-term economic growth and development.
