President announces law to end monopolies
Luanda, ANGOLA, October 16 - President João Lourenço said Monday in Luanda that a competition law will be submitted to Parliament soon to put an end to monopolies and other evils existing in the Angolan economy.
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João Lourenço who was delivering a state of the Nation speech at the opening of the 1st Session of the National Assembly’s IV Legislative Year, said the Government will put place a legal environment that facilitates business, free initiative and competition that secures the consumers’ rights.
According to the president, the adoption of a competition law is crucial as the evils in the Angolan economy like the monopolies have a negative impact on the consumers’ lives.
He said as well that a special attention will be paid to the companies facing difficult situations resulting from the ongoing financial and economic crisis as they are the guarantors of jobs, sustainability of the families and keep the economy going.
The head of State reiterated that he will propose fiscal incentives for companies that offer to invest in the country’s inland regions, particularly those that ensure an articulation between the city and the rural area, and contribute to reduce regional asymmetries and poverty and increase job and families’ revenues.
The president also announced measures to promote exports and substitute imports, through the active participation of local and foreign investors, with strong investment in family agriculture and mechanisation of production.
On the other hand, the president pledged to invest in the electrification of the rural areas and create master plans for the industrial sector, seeking to boost metal works, construction materials, food, textiles and other sectors.
In the term that will go until 2022, the president also pledged to improve the business environment and put in place policies that secure credit accessible to everyone.
According to the head of State, the Government will also organise meetings with local and foreign investors to discuss existing constraints and find solutions.
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