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The oil and gas sector in Angola represents over one-third of GDP and over 90% of Angola's total exports. Until 2014, the economy experienced rapid development, later slowing with the crash in oil prices. The subsequent depreciation of the kwanza and the latest world economic crisis caused by the COVID-19 pandemic have engulfed the country in a recession that, beyond endangering growth perspectives, has raised an important question for the future of the country: How to diversify beyond hydrocarbons?
The new government, which arrived in office in 2017, has focused on maintaining macroeconomic stability through a more flexible exchange rate regime, a restrictive monetary policy, and a fiscal consolidation process. The government has delivered on several key reforms, including the new law on preventing and combating money laundering, as well as the privatization law, the setup of a one-stop window for investors to improve the business climate, and the establishment of a social protection registry to protect the most vulnerable from the reforms. Within this environment, the national economy is expected to grow approximately 3.1% in 2021.
The Business Year brings you a high-level roundtable with speakers such as: Manuel Nunes Júnior, Minister of State For Economic Coordination; Mário Caetano João, Minister of Economy And Planning; Victor Francisco Dos Santos Fernandes, Minister of Industry And Commerce; and António Henriques Da Silva, Chairman of AIPEX. The event will be a discussion on how to transform Angola into one of the most prominent and diversified economies in Africa by 2050.
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Manuel Nunes Júnior is the Minister of State for Economic Coordination. He has a doctorate in public finance from the University of York. He also as a master's in economics from the University of Essex and a degree in economics from Universidade Agostinho Neto (UAN)
Mário Augusto Caetano João is the Minister of Economy and Planning. He has a master's in Portuguese studies from the Faculty of Arts, University of Charles de Praga, Czech Republic. From the same institution he also has: a master's in agricultural economics; a master's in African studies; a doctorate in African studies; and is a doctoral student in economics.
Victor Francisco Dos Santos Fernandes is the Minister of Industry and Trade. He has a degree in mechanical engineering from Instituto Superior Técnico and another in aeronautical engineering from the Air Force Academy
António Henriquies Da Silva is Chairman of the Board of Directors at the Angola Agency for Private Investment and António Henriques Da Silva is Chairman of the Board of Directors of the Angolan Agency for Private Investment and Exports Promotion (AIPEX). He is a senior executive with more than 22 years of experience in various sectors of private and public business activity, from petroleum and gas to telecommunications, television, and manufacturing.
Benjamin MacShane is country editor for The Business Year. He has a worked on producing business reports, market analyses and conducted interviews with business leaders across South America and the Middle East. He joined in 2019 having previously worked for a management consultancy, Beyond Reform and Development, based in Beirut. He has written articles for the online magazine, The Globalist, on democracy promotion and conflict resolution. Benjamin graduated from Edinburgh University and SOAS in London University.