The President of the Republic, João Lourenço, acknowledged on Thursday, January 15, the possibility of granting tax incentives aimed at stimulating key sectors of the economy and attracting investments in the country.
The Head of State spoke to the press after inaugurating the electrolytic aluminium factory in Barra do Dande, Bengo province, an infrastructure project considered strategic for strengthening regional industrialisation and diversifying the national economy.
However, the President reminded that investors understand they are required to pay taxes, and private investment cannot be conditioned solely on fiscal benefits.
According to the President, exceptions to this rule are made selectively if the government deems it necessary to attract investments that might not otherwise be attractive, but are considered important for the economy. In such cases, tax incentives may be granted.
The President emphasised that private investors know the general rule is to pay taxes.
Low energy prices
The Head of State highlighted another type of incentive, particularly for industries: low energy prices.
He pointed out that energy in Angola is very cheap, and this should be seen as an incentive for industrial investors, allowing them to invest more, knowing that energy costs are well below international levels.
“We have stated that we currently have an energy production surplus. On one hand, we need to export, but first and foremost, we need to increase our domestic energy consumption,” he said.
João Lourenço believes the best way to increase consumption is not through households, but through industrial use, noting that the new aluminium factory is a high-energy-consuming industry.
Combatting vandalism of public assets
President João Lourenço stressed the need to ensure no interruptions in energy supply, especially due to acts of vandalism on power transmission networks.
He stated that the Executive, Legislative, and Judicial branches must work together toward the goal of eliminating vandalism of public property, particularly high-, medium-, and low-voltage transmission lines, towers, and cables.
In his view, society as a whole is called to contribute, at least by reporting offenders.
The President emphasised that citizens must report such crimes so that competent authorities can perform their duties: detain, judge, and punish those who fail to recognise that public assets belong to everyone.
He noted that every time a perpetrator vandalises a power tower, their own neighbourhood also loses electricity.
“The patient in the operating theatre in the middle of surgery dies without electricity. Who killed this patient? It’s the vandal. The individual who vandalised the towers is the criminal who killed the patient in surgery,” he stated.
President João Lourenço expressed that he cannot imagine an industrial facility like the aluminium factory suddenly losing power during operations.
“It is a huge loss, not only for the investors but for the country, which could see a greater supply of aluminium in the market,” he explained, describing aluminium as an essential commodity for the industrialisation of any country.
João Lourenço believes that industry will achieve significant growth in the Barra do Dande Free Zone, Bengo province, with public investment in infrastructure, energy, and water supply.
Source: Angop
