President João Lourenço Reaffirms 'Deep Changes' in Angola

LUANDA, Dec 19, 2020:: The Angolan head of state, João Lourenço, said Friday that "a process of deep changes" was underway in the country, with priorities for development in the agriculture, technology, education, transport, infrastructure, health, pharmaceutical, banking and insurance sectors. João Lourenço, who was participating, by videoconference, in a round table before the US President's Advisory Council on business in Africa, said that these sectors may be of interest to US investors, who are predominantly focused on the oil segment.

"The interest in investing almost exclusively in hydrocarbons should be corrected, taking into account the enormous potential that the Angolan economy offers," noted President João Lourenço. The Angolan statesman considered the convergence of points of view between the Angolan government and the future US administration, regarding the issue of fighting corruption, a matter of national security.

"It is in this spirit that we are conducting, in Angola, a process of correction of bad governance practices and management of public affairs, with the support of important institutions from friendly countries, of which I highlight that of the Treasury Department, which has been providing technical assistance to our Financial Information Unit," he noted.

On that occasion, the President of the Republic announced that the law to combat money laundering was already in force, adding that the Angolan government had taken measures to bring the country into line with globally established good practices. In this context he indicated that the Angolan government had started, this year, the process of joining the Extractive Industries Transparency Initiative.