President vows to support Investment in Rural Areas and to end Monopolies

In a first rightful step to free the Angolan economy from nepotism and artificial price inflation, the Angolan government will submit to parliament a proposal for a competition law to bring an end to monopolies and other imperfections in the country’s market, the new Angolan president said on Monday in Luanda, cited by Angolan news agency Angop.

João Lourenço, in a State of the Nation address at the opening meeting of the First Legislative Session of the 4th Legislature of the National Assembly, said that the government would establish a legal framework to facilitate the operation of companies, which promote and defend free enterprise, competitiveness and competition in order to safeguard consumers’ rights. He also said that he will pay special attention to companies that face difficult situations and even struggle for survival due to the crisis, as they guarantee employment, the sustainability of families and keep the economy running. Finally, he reiterated that he will propose tax incentives for companies that decide to invest in the interior of the country, including those that promote cooperation between the city and the countryside, reducing regional imbalances and poverty, to increase employment and income for families.

In his speech, the Head of State also noted the government’s programme for export promotion and import substitution, with the active participation of domestic and foreign investors, a strong focus on family agriculture and also on the mechanisation of production methods.

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