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Economic diplomacy key to fastest-growing process

Luanda, ANGOLA, May 24 - Angola's minister of State for Economic and Social Development Manuel Nunes Júnior mentioned the development of an effective economic diplomacy as crucial for the fastest growing process of the country. ,


The minister was speaking to the press, on the sidelines of the 8th Meeting of Angolan Ambassadors focused on economic diplomacy issue.


Manuel Nunes Júnior described the economic diplomacy as crucial.


He said that the foreign policy's guidelines were clearly defined by the President João Lourenço in September 2017.


The minister of State discussed with the Ambassadors the main elements of the Angolan diplomacy focused on clearer and effective point of view of attracting foreign investments.


"Ambassadors in various parts of the world know the economic circumstances of the countries where they are based, and they can perfectly bring to Angola the necessary investments to support national production, diversify the economy and make it less dependent on oil" , he argued.


The country needs an economy less and less vulnerable to external shocks, he said, calling for

more investments.


The official spoke of the importance of Angola to become self-sufficient in terms of food in the coming years.


Manuel Nunes Júnior defended partnership with international partners to quickly help the country produce internally what it currently imports.


According to him, this allows the currencies used in food imports to be used for other strategic areas of development, including education.


Stressing the importance of the strategic training of Angolan staff, the minister said this aspect ensure highly qualified human resources in the country, help other sectors to move forward.


On the work towards improving the country's business environment, the minister noted that this is a process that is under way.


Meanwhile, he pointed out the new Competition Law, which, according to him, is crucial to avoid the existing monopolies and oligopolies in Angola.


The Law promotes efficient and competitive market, he noted.


Manuel Júnior also spoke of the Law on Capital Repatriation, recently approved by the National Assembly.

This Law, he said, will not only allow the entry of resources held abroad but also fight against corruption.


"All these are important to improve our business environment and make the country more attractive from the point of view of foreign investment," he concluded.


Fifty-nine heads of diplomatic missions representing Angola in America, Europe, Asia and Africa are attending the meeting.


Among the topics, the event is discussing the award of diplomas of merit, and the eight ambassadors retiring this year 2018.