Published in furtherafrica.com
China and Angola established strong bonds among these countries, based on a significant Chinese investment in Angola over the last two decades.
With the Chinese investment consistently increasing, by 2008 Angola became the biggest strategic partner in Africa with the volume of transactions reaching 30 billion dollars.
Even in 2020 and regardless the pandemic, the Chinese investment reached around 120 million dollars in the first five months of the year.
Provinces like Bengo and Luanda are the most popular among Chinese investors.
Agriculture, Industry, and Energy are among the main areas for foreign investors. However, Chinese investors have shown the intention of accessing various sectors, especially those who create added value and ability to return.
One of the major hubs for Chinese investments in Angola is Macao. Being Portuguese one of the official languages of this Special Administrative Region, Macao has a special connection with Angola which assure funding for high-profile operations in Angola. Even during the pandemic, the Macao-Angola bonds strengthened by means of Forum Macau, which allowed for donations of goods and know-how to Angola.
Organizations like the Angola-China Commerce Chamber are major players in the development of stronger relations and the increase of the bilateral investments between both States.
Presently, taking into consideration the start of the economic upturn, it is expected an increase in the economic relations between the two countries, not only due to the increase of the investment of China in Angola, as well as the availability of Angola to promote China as one of the major players in Angola importation of goods.
Article by Marco Correia Gadanha
Marco Correia Gadanha is a partner of the Portuguese law office MC&A. He is specialized in legal advice to international transactions. Marco has extensive experience of legal practice in Portugal and in the Portuguese-speaking African countries. Since 2008, he has practiced mainly in the areas of labor and litigation, assisting national and international clients in these and other matters, namely corporate law, especially in Portugal, Angola and Mozambique. He graduated at the University of Coimbra in 2005 and he holds post-graduations in Labor and Angolan Law.