The African country of Angola is the seventh largest investment destination for European investors in Africa. To date, they have mainly flowed into the raw materials and energy sectors. An agreement has now been signed to facilitate investment in other areas too.

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The Sustainable Investment Facilitation Agreement, or SIFA for short, simplifies approval procedures for investments and also defines environmental standards and employee rights. The agreement also focuses on the publication of all investment laws and conditions as well as the expansion of electronic government services.

A business forum was held in Luanda on November 17 to support companies making the move to Angola.

The European Parliament still has to approve the agreement before it enters into force.

Sources: DIHK, GTAI (German)