Although the Chinese government and numerous large companies have been investing in Angola over the last few years, the idea of investing in a foreign country can sometimes still be daunting for some businesses.
As the country continues its ongoing transformation, Angola's leaders are recognizing that investments in maritime transportation infrastructure are crucial to the nation's export-oriented economy.
Some 100 new business projects are expected to settle in the Catumbela Industrial Development Hub (PDIC) in Lobito, Angola's Benguela province, hub chairman Samuel Orlando do Amaral said.
Angola has recently been enjoying more political stability and the benefits of an economic boom that began in 2002.
Formed in 1992 to offer commercial and marketing services, the Cacofil Group has matured into a transnational company with offices across Angola in Benguela, Luanda, Lubango and Huambo.
Last July Grupo Gema and Edifer, a Portuguese construction group, signed an agreement to strengthen their strategic cooperation to develop infrastructure projects in Angola.
For a long time, aviation served as the backbone for the transportation infrastructure of Angola.
Ten years ago, Angola was in a desperate situation: Years of civil war and political instability had ravaged the country and depleted its resources, while its infrastructure was in tatters.
After all the major people involved in Angola's maritime industry clearly recognized the need to make improvements and the need to get more investment, only two questions remained: Who would lead the charge, and how would they do that?
Chairman Francisco Venancio: China's importance in trade
Angola may be China's main trading partner in Africa and a place where China has invested heavily, but other countries are also looking at the South-West African nation as a potentially important regional transport hub.
Deciding to spend $50 million on a port in Angola is not as easy as it may sound, but, for the consortium in charge, it is not only reasonable, it is the start of a much longer business project.
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