Angola’s Economy and Planning Minister Mario Caetano João has called for more Chinese investment in his country’s agriculture.

The minister told Xinhua that Angola has about 60 million hectares of cultivated land and a low population density, with 30 inhabitants per square kilometer.

According to official Chinese data, China has 22% of the world’s population, but only 7% of its territory is considered arable land.

“We have a lot of land that we would like Chinese investors to grow Chinese products and export to China,” said Mario Caetano João.

“This is very interesting because we also know that China plans to provide China with duty-free and quota-free access to Angola products,” the minister recalled.

On August 5, Chinese Ambassador to Luanda Gong Tao said negotiations were underway to exempt tariffs on goods exported to China.

“Many Chinese companies are already investing in agribusiness. Even the largest maize producers in Angola’s Malanje province are Chinese,” said Mario Caetano João.

The Minister pointed to agriculture as one of the key areas for diversification of Angola’s economy, which is dependent on the oil sector.

Agricultural development also means major investments in infrastructure such as roads, electricity and water supply, as well as in the food processing industry, added Mário Caetano João.

The minister defended the manufacturing of medicines for human and animal consumption in Angola, a “digital transformation” and a “much greater cooperation with China” in the financial sector.

China’s total investment in Angola has already reached $20 billion, but Mario Caetano João said he especially wants private investment to be “higher.”

Source link

Previous articleDaniel Goh says a Workers’ Party disciplinary commission was set up to investigate his Facebook posts about Letha Khan
Next articleEmirates – Clean energy transition presents key opportunity for Indonesia to diversify economy: IEA