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Angolan Government proceeds with Mass Privatization of Public Companies

Angolan Government proceeds with Mass Privatization of Public Companies

More than one hundred and ninety (190) Angolan public companies will be privatized, in the Stock Exchange Market. This privatization will involve companies with great impact on the economy, aiming to increase levels of efficiency and competitiveness of the public sector.

The process for privatization of public companies, whose list has not yet been disclosed, is currently underway and is subject to the rules and criteria established by law.

Privatizations of public companies will be conducted in the most diverse sectors such as: agriculture, industry, tourism, transport, telecommunications, finance and mining.

The Economic Commission of the Government approved the privatization program, a document that identifies the public companies to be privatized in order to reduce state intervention in the economy as a direct producer of goods and services, and to promote favorable conditions for private initiative, investment and the acquisition of know-how in specific skills.