A Memorandum of Understanding to develop a strategic vehicle assembly industrial project in Angola was signed on Sunday by the Ministry of Industry and Commerce (Mindcom) and the UAE-based group AEGI Holding.
The agreement provides for the establishment of an SKD vehicle assembly plant, job creation, technology transfer, promotion of national industrialization, and expansion of exports, according to a Mindcom document sent to ANGOP on Monday.
Research indicates that an SKD assembly plant is a vehicle manufacturing process where cars arrive at the local factory semi-disassembled, in kits that already include pre-assembled components such as the body, engine, and transmission.
According to the note, Mindcom will provide institutional support, infrastructure, incentives, and regulatory facilitation, while the other party will be responsible for investing in, constructing, and operating the factory.
“This step reinforces Angola’s commitment to industrial development, the promotion of ‘Made in Angola,’ and the attraction of private investment,” the document states.
The signatories were Evaristo Baptista, National Director of Industry, representing Angola, and Shehab Al Hijazi, Head of Strategy at AEGI Holding, representing the United Arab Emirates.
Source: Angop
