Luanda, August 30
Xinhua News Agency reporter Zhu Shaobin
Angola’s Minister of Economy and Planning Mario Joao said in an exclusive interview with Xinhua News Agency in Luanda, the capital of Angola, that Angola is actively promoting economic diversification and looks forward to strengthening cooperation with China in the process to achieve mutual benefit and win-win results.
Joao said that in recent years, Angola has made positive progress in implementing economic diversification. The oil sector accounted for 43 percent of Angola’s gross domestic product (GDP) in 2011, and by 2021 this share has fallen to 28 percent. Angola’s non-oil sector is expected to grow at an average annual rate of 5 percent over the next few years, higher than the country’s GDP growth rate of 3.5 percent.
He said that agricultural economy, human capital construction and improvement of business environment will be three important pillars in the process of economic diversification in Angola, and Angola and China will cooperate in the above fields The potential is huge. At present, many Chinese companies have invested in the agricultural sector of Angola, including the largest corn producer in Malange province.
Joao said that Angola has a vast area of arable land, and the agricultural economy is one of the most important factors for economic growth, which covers crop planting, agricultural trade, transportation, processing and supporting water , electricity, roads and other infrastructure construction. Maize, rice, wheat and pulses are the four most popular crops grown in Angola and are crucial to ensuring the country’s food security.
Joao expects China to help increase the production capacity of agricultural products in Angola. “We need to make massive investments in agribusiness, especially in infrastructure, to ensure there is a market for all the produce that is produced,” he said.
Joao spoke highly of the fruitful cooperation achievements between Angola and China over the years. He said that China‘s construction of railways, highways, airports and other major cooperation projects in Angola is impressive, and Angola looks forward to strengthening cooperation with China in the fields of medicine, digital economy and finance.