Angola: Ruling Party Considers Reducing Taxes to Attract Investment

Luanda — The creation of more fiscal incentives, through the reduction of taxes to attract investments into the most needy regions of the country figures among the economic measures an MPLA election winning government is considering.

This was said Friday in Luanda by the ruling MPLA party’s presidential candidate, João Lourenço, who said the existing regional asymmetries will not be eliminated through decrees.

Speaking at a press conference, João Lourenço mentioned the need for more incentives, mainly fiscal ones to attract private investments into the most needy regions.

While admitting reducing taxes entails less fiscal revenues, he said the State will have other gains like improved living of the populations in the regions receiving the projects, through the creation of more jobs.

To João Lourenço, job creation both in the public and private sectors represents a gain to any government, as unemployment is a very serious problem when taxes are too heavy.

He said he believes that the tax incentive policy woukd help improve the business environment, leading to the “proliferation” of micro, medium and large sized businesses and helping solve the shortage of jobs for young people and the resulting increase in goods and services.

He admitted the relevance of the civil servant sector in providing jobs, pledging that more opportunities for the first job will be created.

However, the ruling party’s presidential candidate said the key to settling the unemployment problem rests with fomenting the local private businsess sector.

João Lourenço has just wound up a countrywide roadshow for his presentation to militants, friends and sympathisers.

General elections, the country’s fourth, will be held on 23 August this year, with the participation of five contesting political parties and a coalition. They are the ruling MPLA party and opposition UNITA, PRS, FNLA, APN and coalition CASA-CE.

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