ECONOMIC ACTIVITIES
Oil
Angola has large oil reserves and is the second largest oil producer in Sub-Saharan Africa. Sonangol is the Angolan state-owned company in the oil industry. Several International companies operate in the oil field.
In addition to oil production, the country is potentially rich in minerals, including diamonds, gold, zinc, marble, iron and copper.
Agriculture
The main food crops find favourable conditions for their development in the North and Northeast provinces of the country (Cabinda, Zaire, Malange, Uíge, Cuanza Norte, North and South Lunda) with the predominance of coffee, bananas, cassava, sweet potatoes, beans and ground nuts.
In the central plateau (Huambo, Bié, Huíla, Cuanza Sul and Benguela), where maize, cassava, sorghum and millet stand out.
Whilst cocoa is produced in Cabinda province, wheat finds favourable growing conditions in Huambo, Cunene and Cuando Cubango.
Rice is produced in the flat areas of Kuanza Sul, Bié, Huíla, Cunene and Cuando Cubango provinces. Soybean is grown in Huíla, Kuanza Sul, Benguela and Malange.
Fisheries
Angola is lapped by the Atlantic Ocean and has great water potential. The types of catch that stand out the most are industrial fishing and artisanal sea fishing. Semi-industrial, continental artisanal fisheries and aquaculture are also practiced.
Industry
The industrialization of Angola has become one of the main objectives of the current Government of the Republic of Angola. The Luanda - Bengo Special Economic Zone and the Viana Special Economic Zone are examples of the manufacturing industry aimed at attracting internal and external investments to the country.
In the mining industry, the extraction of oil, diamonds, gold, iron, and other inert stands out.
Tourism and Hospitality
Angola has forest resources, an abundant fauna with rare species and a coastline with attractive beaches that provide tourist activities. According to data held by the Association of Hotels and Resorts of Angola (AHRA), the country has about 500 hotels from 3 to 5 stars, 1200 pensions, small hotels and self-catering.
It should also be noted that the country is part of the Okavango-Zambezi (KAZA) tourism project that integrates Botswana, Namibia, Zambia and Zimbabwe.
For more information on tourism click here.
Trade and Investments
The promotion of Trade, Investment and Economic Development is one of the Angolan Government's priorities. The aim is to set the private sector at the forefront of Angola's economic and social development.
In order to improve the attractiveness of private investment, especially foreign direct investment, changes were made to the Private Investment Law, to allow the negotiation of incentives, facilities and other rights to investors of high amounts, especially foreign investors.
For more information on investments; business creation; visa acquisition; tourism and much more, visit the website www.aipex.gov.ao
