President João Lourenço acknowledged on Thursday the possibility of granting tax incentives aimed at stimulating key sectors of the economy and attracting investment to the country.
The Head of State was speaking to the press after inaugurating the electrolytic aluminum factory in Barra do Dande, Bengo Province—an infrastructure project considered strategic for strengthening the region’s industrialization and diversifying the national economy.
The President, however, stressed that investors are aware they are required to pay taxes and that private investment cannot be made conditional on tax benefits.
According to the Head of State, exceptions to this rule may be made on a case-by-case basis if the Executive believes there is a need to attract investments that are not, in principle, particularly attractive, but which are nonetheless considered important for the economy. In such exceptional cases, tax incentives may be applied.
President João Lourenço emphasized that private investors understand that the rule is to pay taxes.
Low Energy Prices
The Head of State also pointed out that another form of incentive, particularly for industries, is the low cost of energy.
He highlighted that energy prices in Angola are very low, which should be viewed by industrial operators as an incentive to invest more, given that energy costs are significantly below international levels.
“We have said that we currently have a surplus in energy production. On the one hand, we need to export it, but first and foremost we need to increase our domestic energy consumption,” he said.
João Lourenço believes that the best way to increase consumption is not through household use but through industrial consumption, noting that the new aluminum factory is a high energy-consuming industry.
Combating Vandalism of Public Assets
President João Lourenço stressed the need to ensure uninterrupted energy supply across the country, particularly by preventing disruptions caused by vandalism of power transmission infrastructure.
According to the President, the Executive, Legislative, and Judicial branches must work in a coordinated manner toward the common goal of showing zero tolerance for the vandalism of public assets in general, and especially the vandalism of power lines, towers, and high-, medium-, and low-voltage transmission cables.
He added that society as a whole must contribute, at the very least by reporting offenders.
The President urged citizens to report such acts, as they constitute crimes, enabling the competent authorities to carry out their duties of arresting, prosecuting, and convicting those who fail to understand that public assets belong to everyone.
He noted that whenever an offender vandalizes a power tower, their own family and neighborhood are also left without electricity.
“A patient in an operating room in the middle of surgery without power dies. Who killed that patient? It was the vandal. The individual who vandalized the towers is the murderer—the criminal who killed the patient undergoing surgery,” he said.
President João Lourenço said he could not imagine an industry such as the aluminum factory suddenly losing power during full operation.
“This represents a huge loss, not only for the promoters, but for the country, which could otherwise see a greater supply of aluminum on the market,” he explained, describing aluminum as an essential product for the industrialization of any country.
João Lourenço expressed confidence that industry will make significant strides in the Barra do Dande Free Zone, Bengo Province, with the State ensuring public investment in land development, energy, and water infrastructure.
Electrification of the Dembos Triangle
The President also assured that the electrification of the Dembos Triangle—comprising the municipalities of Kibaxi, Bula Atumba, and Pangua Aluquém—is among the Executive’s priorities.
“Therefore, at any time, this project, which is long-standing and much demanded by the authorities of Bengo Province, will be implemented,” he assured.
Source: Angop
