Angola: Finance Minister Defends Strong Private Sector

Angola Press Agency (Luanda), 27 November 2008

Angolan Finance minister, Severim de Morais, Thursday in central Huambo, spoke of the need for a strong private sector in the country, capable of meeting the society's demands for goods and services.

The minister was speaking at the closing of the first national conference on the private sector that took place in Huambo for two days.

The official justified the need for a strong private sector saying that the stronger its capacity in serving the demands of the society, the lesser will be the action of the State on the economy.

Severim de Morais stated that being the country's private sector still incipient, the Government finds it necessary to intervene on it in order to strengthen it as the only way to create a strong national economic and business basis, required for the sustainable development of the country.

He also spoke of the need for a mechanism for permanent and structured dialogue between the private sector and the Government, coupled with a major involvement of the State in the solution to constraints that affect the good performance of the private sector.

According to the minister, the Government is committed to the creation of an environment favouring political and macro-economic stability, existence of basic and working infrastructures, know-how and capable institutions.

On the occasion, the minister appealed to the country's businesses to endeavour to create a strong economic and business basis, through a dialogue with the Government.

The meeting was attended by about 300 people from Angola, Mozambique, US, Spain and South Africa.

The first national conference on the private sector closed with the investiture of the managing board of the Angola's Council of Business Associations (CAEA). The event was sponsored by the oil companies Sonangol, Chevron and Eny.