Angola seeks investments from India in five sectors

The Minister was here in Chennai as part of a business delegation from Angola, facilitated by FICCI. The Minister foresaw enormous potential in industries such as housing, healthcare and pharmaceuticals. The Minister added that oil was contributing to less than a third of the economy and the non-oil  growth rate had been steadily climbing to minimise the dependence on oil as a key contributor to the economy. 

The Minister went on to add that India was a strategic partner to the economic development of Angola and that India was ranked as the second largest trading partner with a contribution of about 11 per cent. The top five sectors contributing to exports into India included petroleum crude, cast iron & steel, granite and other stones, wood and copper waste.  

Ar M Arun, Chairman, FICCI Tamil Nadu State Council welcomed the  delegation while Ruban Hobday, Head – TN State Council, FICCI proposed a vote of thanks.