The Angolan Parliament approved on July 23rd, the Private Investment Law, which aims to adapt the system of tax benefits to the current economic dynamics of the country.
The draft bill, which was presented by the Minister of Economy, Abraão Gourgel, will reduce bureaucracy associated with the entry of investments. The bill establishes the general bases of private investment in Angola and outlines the principles and rules for access to incentives and other benefits granted by the Angolan government.
This draft bill, will also establish the general basis for private investment in Angola, including in special economic zones, free trade zones, development hubs and in other areas subject to specific guidelines.
Source: ANGOP