By Publisher Lee Kyung-sik, Managing Editor Kevin Lee
“Angola seeks investment from foreign countries in the agriculture, fishery, construction, education, mining, textile and environmental fields such as ESG (environment, social and governance),” said Chairman Antonio Henriques Da Silva of the Agency for Private Investment and Exports Promotion (AIPEX) on July 6.
In an exclusive interview with The Korea Post media, publisher of 3 English and 2 Korean language news publications since 1985, Chairman Silva said, “Angola has huge potential, including young manpower and good quality agricultural products. For instance, 75 percent of Angolans are less than 25 years old.”
The followings are main excerpts from the interview with AIPEX Chairman Silva.
Question: Would you introduce the main purpose of your visit to Korea?
Answer: This is my first visit to Korea. I hope that my visit will help both Angolan and Korean people, especially businessmen, get closer, understand each other well, and exchange good and valuable experiences.
Q: As the leader of AIPEX, please introduce activities of the organization?
A: The role of AIPEX is to register and monitor the implementation of private investment proposals, coordinate institutional support to investors, and promote the increase and diversification of the country’s exports of goods and services.
My mission is to increase the participation of the non-oil private sector in the development of the national economy through the promotion and attraction of foreign direct investment.
At the same time, we will make efforts to improve the business environment and promote competition and productivity.
Q: What is the bilateral trade volume between Korea and Angola and what is its outlook?
A: In 2020, Angola exported $133 million to South Korea. The main products that Angola exported to South Korea are petroleum gases and other gaseous hydrocarbons, petroleum oils and oils from bituminous minerals.
Meanwhile, South Korea exported $80.2 million to Angola in 2020. The main products that South Korea exported to Angola were diodes, transistors, similar semiconductor devices, including photovoltaic cells assembled.
I hope that the bilateral trade volume will increase substantially in the years to come through bolstered economic relations and close cooperation in the business circle.
Q: What are your competitive products or services attractive to Korea?
A: We have many internationally competitive products, including diamond, butter bean, cabbage, cachupa corn, banana and high quality coffee. Angola is the first banana producer in Africa.
Cereal production saw a 47 percent increase in the 2012~2016 period. Angola is the second largest oil producer in Africa with more than 1.4 million barrels per day.
Q: What are the Korean products and services that your country might wish to import?
Who are the major Korean companies actively engaged in bilateral economic cooperation?
A: Currently such automotive-related companies as Hyundai and Kia are doing business in Angola.
Daewoo is participating in the oil development project and Inter-Burgo is engaging in the fishery sector. And some Korean companies, including Samsung C&T, have been pushing for various projects in marine facilities, refineries, shipyard modernization projects, etc.
Q: Korean people, especially businessmen, need rest and recuperation. What are your tourist attractions?
A: Angola boasts an expansive coastline of Atlantic Ocean beauty and a beautiful blend of grasslands, savannas, tropical forests and urban expanses inland.
One of Angola's biggest attractions in the south west is the Namib desert. It runs from Angola, through Namibia, to South Africa’s Kalahari and is an impressive feat of nature. Local tribes live in the Angolan part of this desert and will happily show you their culture and heritage. Fishing in Angola is also famous for foreign tourists.