| ANIP NEWS,
12.08.2005:
— Government Considers National Development Bank.
— Plastics Factory Opens in Viana.
— Metal Equipment Manufacturer Expands Operations.
— Calendar of Events.
Government Considers National Development Bank
Deputy Prime Minister Aguinaldo Jaime announced last week that
the Angolan government is conducting a feasibility study on
the creation of a publicly funded development bank that could
finance long term development projects in Angola. The Deputy
Prime Minister said that the bank would not finance short term,
immediate or trade transactions, but would focus on providing
financing for long term projects that support the country’s
economic development.
Mr. Jaime announced the feasibility study at the signing of
a $10 million financial agreement between the Finance Ministry
and Banco Sol and the Banco de Poupanca e Credito (BPC) to provide
micro-credit to rural communities. The Deputy Prime Minister
said both the feasibility study and the new micro-credit agreement
were part of a government effort to redress some of the “imperfections”
of the market. He noted that high interest rates have made access
to credit impossible for some potential borrowers. Consequently,
of the $10 million, $1 million will be used to offset interest
rates for micro-credit loans. The micro-credit loans will be
repayable over a period of 18 months to 2 years, with an 8 percent
interest rate. In its initial phase, the micro-credit program
will focus on lending to small agricultural producers, teachers,
nurses and young entrepreneurs in Bie, Huambo, Huila, Benguela,
Kwanza-Sul, Malange, Uige, Cabinda and Luanda provinces.
IN THE INDUSTRIAL SECTOR
Plastics Factory Opens in Viana
A new plastics manufacturing factory “Flo-Tek” was inaugurated
in the Viana district of Luanda last week. The factory is the
result of a partnership between local business interests Bongani
Investment Holdings and Radical Investment of Botswana. The
group invested $2 million to build the facility which will manufacture
100 diverse products such as water and fuel storage tanks, traffic
cones, road dividers, and garbage containers. It has the capacity
of producing 200 tons of plastic items per day. The company
hopes to invest another $7 million to expand its operations
to Benguela province by the end of 2005 and will increase the
number of its employees from 50 to 500.
Metal Equipment Manufacturer Expands Operations
The Metallurgy Firm of Viana, a private company that manufactures
metal equipment, has invested $3 million in 2005 to expand capacity.
The company invested in staff training and the purchase of new,
high-tech welding and cutting machinery in order to produce
metal equipment that meets international standards. The firm,
which has invested a total of $8 million since its inception
in 2002, employs more than 200 workers, a number that it expects
to triple over the next two years. The company produces and
repairs tanks, cisterns, fuel storage tanks, trash containers
and compactors, as well as equipment used in civil engineering
and other heavy industry sectors.
Calendar of Events
September 5-7 – International Fishing Forum
– The Association for the Development of Artesian Fishing in
West Africa (ADEPA) will be hosting an international forum in
Dakar, Senegal on “Coordinated Management of Fishing Resources
– A Major Challenge for Professional Organizations of Artesian
Fishermen in West Africa.”
September 22-25, 2005 -- Angola Motor Show
– Sponsored by “Arena Angola,” and co-organized with the Association
of Road Transport Equipment Sellers, the show will showcase
automobiles, accessories, office equipment, two-wheeled vehicles
and a nautical hall.
November 23-27, 2005 – Third edition of the “Constroi
Angola” – a 10,000 square meter trade show focusing
on public works, civil construction, telecommunications, information
technology, and security protection equipment.
ANIP
NEWS
Press-center of Angola Embassy in Russia
05.08.2005
Embassy of Republic of Angola, 2005
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