The chairman of the board of directors of the National Agency for Petroleum, Gas, and Biofuels (ANPG), Paulino Jerónimo, announced his intention to propose to the executive branch an amendment to the current Foreign Exchange Law, with the aim of allowing national companies providing services to the oil sector to have access to the dollar for the purchase of goods and equipment necessary for the execution of their contracts.
According to Jerónimo, the measure aims to address the difficulties faced by Angolan companies operating in the oil industry value chain, particularly with regard to the import of products and services paid for in foreign currency.
Paulino Jerónimo stressed that the proposal aims to create more balanced conditions for national and foreign companies, strengthening the competitiveness of Angolan businesses and promoting greater local participation in the oil sector.
According to the ANPG, the revision of the exchange rate regime could contribute to strengthening local content, reducing operational constraints, and stimulating the sustainable growth of national companies linked to the oil, gas, and biofuel industries.
The initiative will be submitted to the Executive for consideration, as part of ongoing reforms aimed at improving the business environment and attracting investment, while promoting the development of the national private sector.
Source: Jornal Mercado
