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The Change

The Angolan State remains committed to change the direction of the country and the image it offers to the international community.

To this end, and in order to become independent of the imports that so penalize the normal development of the economy, the Executive has been attracting foreign investment to bet on the agricultural sector. It is in this area that the Government of the People's Republic of China is willing to invest in the development of the Angolan industrial sector, taking advantage of the country's agricultural potential, developing in one of the provinces an agricultural project in an area of two thousand hectares and through financing of US $ 15 million.

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Marginal oil discoveries with major returns

In the middle of this year, a Presidential Legislative Decree came into force, it has established the procedure for granting tax incentives in cases of marginal oil discoveries.

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Limitations on foreign exchange transactions for family support

On past 1st July 2018, Instruction no. 6/2018, from 19th June, entered into force establishing limits on foreign exchange transactions for family support, in order to provide greater security and predictability in respect of access to available foreign currency for the largest possible number of foreign exchange residents who need such currency for the subsistence of dependents outside the country.

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Law of Repatriation of Financial Resources in Angola

The Law of Repatriation of Financial Resources was published on June 26, 2018 in the Diário da República de Angola, which provides for a period of 180 days, from the date of its publication, for the voluntary repatriation of those resources.

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Angola plans to increase oil production

The Angolan Government informed its investors in the month of May of its intention to increase the number of daily oil withdrawals, and fixed that increase by 500,000 barrels of crude oil per day.

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