MC&A has been active as a legal service provider in several areas of practice in Angola, assisting transactions evaluated in more than EUR 2 billion since 2012, and has been invited to attend Economic Forum Angola/Germany, one of 2020’s greatest events related with investing in Angola, which took place in Luanda last week.
The event was attended by the German Chancellor Angela Merkel, who has reaffirmed Germany’s confidence in the Angolan economy and politics and their recent developments (for example, reforms related with fight against corruption) and in Angola’s capacity to become a cornerstone in Africa. It was also a message stating the great significance that Germany gives to its relationship with Angola, when relations between these two countries seem to be in a very positive evolution.
In addition to German Chancellor and Angolan President João Lourenço attendance, ministers, senior officials and executives from some of the biggest companies of both countries, Angolan Economic and Social Development Minister performed a presentation about Angola’s macroeconomic situation, followed by an analysis of the most important points regarding new Angolan Private Investment Law, approved to promote more external investment in the Angola. At the center stage, issues and ways of cooperation between Angola and Germany, in sectors like Agriculture, Transports, Infrastructures, Trade, Mining, Energy, and others have been discussed.
With regard to new agreements and treaties signed during the summit, the highlight was memorandum of understanding’s signature with Siemens, a German company chosen to construct Luanda’s surface metro network, in a public-private partnership evaluated in EUR 3 billion. Were also signed (between others), agreements to rehabilitate some national roads (with Gauff GmgH) and fortify cooperation relating hydroelectric energy (with Andritz).
Organizers’ major objective was to permit with this event, the arising of new businesses, partnerships and investment opportunities in Angola, to German companies, and establish a more extensive cooperation and new contacts between Angolan companies and potential German partners. Chancellor Merkel’s attendance was part of a way to achieve new levels of collaboration and new strategical deals for both countries.
8th Angolan-German Economic Forum, February 7th, 2020 in Luanda, Angola