Angola : Investment Climate Assessment
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Successive armed conflicts, which lasted
almost three decades after independence, have devastated
Angola and its economy. However, since the peace accord of
April 2002, Angolans have begun a transition toward national
reconciliation and lasting peace. For the Government of
Angola (GoA), one of the main challenges ahead is to
reconstruct the economy and reunite society after a war that
has left its most visible marks on the millions of displaced
that are returning to their areas of origin and demobilized
former combatants that will need to be reintegrated into
society. Peace in Angola has come hand in hand with a surge
in Gross National Income (GNI) per capita over the past
years: per capita GNI rose from USD 470 in 2001 to about USD
1,980 in 2006, primarily as a result of increased oil
production and revenue. Even though the national income is
currently above the average level in Sub-Saharan Africa,
Angola was nonetheless ranked 161st out of 177 countries in
the United Nations Human Development Index (HDI) of 2006.
This underscores the magnitude of Angola's challenges
in the social sphere. The World Bank's Interim Strategy
Note (ISN) of February 2005 was set to support the
government's program for 2005-2006 and emphasized the
need to encourage the private sector's role through a
stronger public/private dialogue frame work and a more
propitious operating environment for the private sector. The
World Bank's ISN of May 2007 reinforced this need,
whilst at the same time recognizing that there has been
progress: 'the GoA has adopted legislation to
streamline the regulatory framework and clarify land rights
and has improved customs procedures. It has also taken steps
to improve access to financial services, including
microfinance, by allowing new entrants into the market.
Investments in infrastructure, including roads, railways,
and electricity generation and transmission will also
improve the investment climate'.
Palabras clave
ABSENTEEISM, ACCESS TO CREDIT, ACCOUNTING, ACCOUNTING FRAMEWORK, AGRICULTURE, AIR, ANNUAL INFLATION RATE, ARBITRAGE, ARBITRATION, ARBITRATION LAW, BANKING SECTOR, BANKS, BENCHMARKS, BONDS, BOTTLENECKS, BRIDGE, BUDGET DEFICIT, BUDGET SURPLUS, BUSINESS ENVIRONMENT, BUSINESS INDICATORS, BUSINESS OPERATION, CENTRAL BANK, COLLATERAL, COLLATERAL LAW, COLLATERAL REGISTRIES, COLLATERAL REQUIREMENTS, COMMERCE, COMPETITIVENESS, CONSUMER, CONTRIBUTION, CONTRIBUTIONS, CONTROLLED PRICES, CORPORATE REGISTRIES, COST OF CREDIT, COSTS OF TRANSPORTATION, CREDIT BUREAUS, CREDIT INFORMATION, CREDIT POLICIES, CRUDE OIL PRICE, CUSTOM, CUSTOMS, DEBT, DEBTS, DECENTRALIZATION, DEEDS, DEVELOPMENT BANK, DEVELOPMENT STRATEGY, DISCLOSURE REQUIREMENT, DIVERSIFICATION, DOMESTIC CREDIT, DOMESTIC CURRENCY, DRIVERS, EARNINGS, ECONOMIC ACTIVITY, ECONOMIC DEVELOPMENT, ECONOMIC MANAGEMENT, ECONOMIC OUTLOOK, ECONOMIC PERFORMANCE, ECONOMIC POLICIES, ELECTRICITY, ENTERPRISE DEVELOPMENT, EXCESS LIQUIDITY, EXCHANGE RATE, EXPORTER, EXPORTERS, EXPORTS, EXTERNAL DEBT, EXTERNAL DEBTS, EXTERNAL SHOCK, EXTREME POVERTY, FARES, FINANCES, FINANCIAL DATA, FINANCIAL MARKET, FINANCIAL SECTOR, FINANCIAL SERVICES, FINANCIAL SITUATION, FISCAL DEFICIT, FISCAL DEFICITS, FISCAL DISCIPLINE, FISCAL POLICY, FISCAL SURPLUS, FISCAL SUSTAINABILITY, FOREIGN CURRENCY, FOREIGN EXCHANGE, FOREIGN EXCHANGE MARKET, FOREIGN INVESTMENT, FULL-TIME EMPLOYEES, GDP PER CAPITA, GINI COEFFICIENT, GOVERNMENT BONDS, GOVERNMENT BUDGET, GOVERNMENT EXPENDITURES, GOVERNMENT REGULATIONS, GOVERNMENT REVENUES, GOVERNMENT SPENDING, GROSS DOMESTIC PRODUCT, GROWTH RATE, HOLDING, HOLDINGS, HOUSEHOLD INCOME, HUMAN RESOURCES, ILLITERACY, IMPORT LICENSE, IMPORT LICENSES, INDIRECT COST, INDIRECT COSTS, INFLATION, INFLATION RATES, INFLATIONARY PRESSURES, INFORMATION INFRASTRUCTURE, INFORMATION SYSTEM, INFRASTRUCTURE REHABILITATION, INSPECTIONS, INSTITUTION, INSTRUMENT, INTEREST RATES, INTEREST RATES ON LOANS, INTERNATIONAL COMPARISON, INTERNATIONAL COMPARISONS, INTERNATIONAL CRUDE OIL, INTERNATIONAL MARKET, INTERNATIONAL PRICES, INVENTORIES, INVENTORY, INVESTMENT CLIMATE, INVESTMENT CLIMATE ASSESSMENT, INVESTMENT CLIMATE ASSESSMENTS, LABOR MARKET, LARGE COMPANIES, LARGE FIRMS, LIMITED ACCESS, LIQUIDITY, LOAN, LOAN APPLICATIONS, LONG-TERM FINANCE, LOW INCOME, M3, MACROECONOMIC ADJUSTMENT, MACROECONOMIC CONTROL, MACROECONOMIC STABILITY, MACROECONOMIC STABILIZATION, MACROECONOMIC VARIABLES, MANUFACTURING, MARITIME TRANSPORT, MARKET ECONOMY, MARKET PRICE, MARKET SHARE, MEDIUM ENTERPRISES, MICROFINANCE, MONETARY FINANCING, MONETARY POLICY, NATIONAL INCOME, NATURAL RESOURCES, NOTARY, OIL PRICES, PERFORMANCES, PERMANENT EMPLOYEES, POLITICAL ECONOMY, POLITICAL STABILITY, POPULATION DENSITY, POPULATION GROWTH, POVERTY ALLEVIATION, POVERTY SITUATION, PRICE INCREASES, PRICE STABILITY, PRICE VOLATILITY, PRIVATE CREDIT, PRIVATE CREDIT BUREAUS, PRIVATE INVESTMENTS, PRIVATE SECTOR, PRIVATE SECTOR DEVELOPMENT, PRIVATE SECTOR PARTICIPATION, PRODUCT MARKETS, PRODUCTION FUNCTION, PRODUCTIVITY, PUBLIC EXPENDITURE, PUBLIC FINANCE, PUBLIC FINANCES, PUBLIC RECORD, PUBLIC SPENDING, QUESTIONNAIRE, RAILWAYS, RATE OF GROWTH, RATE OF INFLATION, RATES OF INFLATION, REAL ESTATE, REAL ESTATE REGISTRY, REAL EXCHANGE RATE, REAL GDP, REGULATORY ENVIRONMENT, REGULATORY FRAMEWORK, REGULATORY REQUIREMENTS, RESEARCH ASSISTANCE, RESERVE, RESOURCE ALLOCATION, RESPONSIBILITIES, RESULT, RESULTS, RETURN, ROAD, ROADS, SALES, SANITATION, SECURITY SERVICES, SENIOR, SHORT-TERM FINANCE, SOCIAL SERVICES, STAKEHOLDERS, STREETS, TAX, TAX POLICY, TAX RATES, TAXATION, TOTAL FACTOR PRODUCTIVITY, TRADING, TRANSIT, TRANSMISSION, TRANSPARENCY, TRANSPARENT GOVERNANCE, TRANSPORT, TRANSPORTATION, TRUE, TURNOVERS, VALUE ADDED, WALKING, WAREHOUSE, WEALTH, WORKING CAPITAL