A business group from the United Arab Emirates (UAE) is interested in investing around USD 30 million in the production of rice and avocado in Angola
The intention of the respective investors was expressed to the Minister of Agriculture and Forestry, António Francisco de Assis, during a hearing granted to a delegation of UAE businesspeople. At the time, the business class was interested in investing in the provinces of Malanje, Bié, Cuando Cubango, Lunda Norte and Lunda Sul, needing 5 thousand hectares for rice cultivation and 500 hectares for avocado production.
With this initial investment, which might generate approximately 300 direct jobs and around a thousand indirect jobs, it is expected to reach between USD 40 and USD 50 million, in the project’s maturity phase.
During the hearing, the Minister of Agriculture and Forestry, António Francisco de Assis, assured investors of institutional support from the Government of Angola, for the materialization of the respective projects. According to the official, the country is making every effort to relaunch rice production, a fact that increasingly needs investors, despite the cultivation of this cereal in Angola.
For his part, the CEO of the Dubai company E20 Investment’, Sultan Aljaheri, recognized that Angola has all the necessary conditions to implement the rice and avocado production project. In addition to the UAE delegation’s visit, E20 Investment in Dubai has already had, for more than 90 days, in Angola, agronomy experts who are carrying out prospecting work in the country’s various provinces.
