Angola details strategies for state assets privatization program

Source: Xinhua| 2019-09-20 21:41:22|Editor: Shi Yinglun
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LUANDA, Sept. 19 (Xinhua) -- The Angolan government explained strategies and methods adopted for implementing its state assets privatization program at a workshop here on Thursday.

Representatives of the International Finance Corporation (IFC) of the World Bank, the country's financial sector, business associations and chambers of commerce attended the event that runs till Friday.

The State Minister for Economic Coordination, Manuel Nunes Junior, while ensuring the transparency of the privatization process, stressed that Angola wants investors to clearly understand the entire ongoing program.

He said the program aims at strengthening the private sector in the country, turning the private sector into the true "driving force" of Angola's economy, and improving the employment situation.

"A strong and sustained market economy cannot be built without a strong and competitive private sector," said Nunes Junior, who is also the coordinator of the National Inter Ministerial Commission for the Implementation of the Privatization Program.

At the launch of the program, the government guaranteed that the process will contribute to increasing employment levels and "gradually reduce production costs."

A presidential decree issued on Aug. 5 states that 195 state-owned companies related to such sectors as finance, telecommunications, mining and agriculture will be privatized by 2022, among which 175 will be sold through public tender, 11 by public auction and nine by initial public offering.