Angolan President iterates commitment to market economy

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LUANDA, Feb. 18 (Xinhua) — Angolan President Joao Lourenco on Wednesday iterated his government’s commitment to establish and consolidate a society featuring the rule of law and a market economy.

Lourenco made the remarks at the opening of the 44th session of the board of governors of the International Fund for Agricultural Development (IFAD) held via videoconference.

He said the Angolan government intends to diversify the national economy and change, in definitive terms, the economic structure of the country which is very dependent on oil resources.

Angola has developed several initiatives to improve the business environment to attract more direct local and foreign private investment, Lourenco said, underscoring the need to promote growth of the non-oil sector to create more jobs and increase income and well-being of its citizens.

The Angolan President said the government is paying special attention to agriculture, agro-industry, fisheries, extractive and manufacturing industries, construction, tourism and other labor-intensive sectors.

“We are making a great effort to revitalize and develop agriculture in Angola, so that we can reduce our great dependence on food imports,” he said. Enditem

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