The European Union provided 20 million euros to support the Informal Economy Conversion Program in Angola.
The agreement signed this Monday is part of the plan to respond to the effects of the Covid-19 pandemic on the country s economy.
According to the Angolan Minister of Economy and Planning Sérgio Santos, this funding will be applied to initiatives already registered in the State Budget, which is expected to start in January 2021. These are two measures, on the one hand to reduce the bureaucratic burden in the recognition, registration and licensing of economic activities, but on the other hand we have to act in order to get these informal operators to recognize that their self-employment or their entrepreneurial initiative can be better carried out within a framework of stability and formality, Sérgio Santos - Angolan Minister of Economy and Planning said.
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14h25 Luanda - The European Union (EU) and Angola will soon begin the negotiation process to establish a bilateral agreement that will facilitate investment in the southern African country.
This is the first bilateral agreement of this type that the EU will sign with an African country, said this Friday in Luanda, the European Union ambassador to Angola, Jannette Seppen.
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Jannette Seppen, was speaking at the meeting of the Steering Committee of the Trade Support Project, financed by the EU and technically executed by the United Nations Conference on Trade and Development (UNCTAD).
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According to the source, when one talks about the economy, trade and investment one must be recognize the main player involved: the private sector.