Asian fund of 50 billion dollars wants to finance projects in Angola

Asian fund of 50 billion dollars wants to finance projects in Angola

Angolan and foreign investors will be able to access a $ 50 billion fund ($ 42.6 billion) from Centennial Energy Thailand, an international investment and development group for commercial and humanitarian projects.

To this end, a memorandum was signed in Luanda between the Technical Unit for Private Investment (UTIP) of Angola, a support body for the President of the Republic in the preparation, conduct and negotiation of private investment projects, and Centennial Energy Thailand.

The document was initialed by the director of the UTIP, Norberto Garcia, and the chairman of the board of directors of Centennial Energy Thailand, Raveeroj Rithchoteanan.

Speaking to the press, Norberto Garcia said that the fund is available to national and foreign investors, and will allow the realization of projects in Angola, mainly in the productive sectors, namely agroindustry, tourism, hotels, fisheries and energy.

“The existence of this fund will bring money to the market, it will finance the market, which will be able to self-develop. This fund makes perfect sense because the partner wants a partnership, a joint venture, in this way. We are not talking about interest rates, returns in any way complicated, with the process of investor management, because it is in function of the income that the partnership will provide, that the return will be made, “he said.

He added that the fund also comes to facilitate the implementation of 688 projects currently halted due to lack of funding.

The Angolan leader stressed that this fund has already been in Cambodia and Vietnam, Asian countries that have developed using it: “What does it mean that Angola has to take advantage of this fund, this opportunity.”

“We have here essential conditions to make projects happen and make projects that until now have no financing, because there is some difficulty in our banking for this purpose, it is our mission, we have contact with the outside, make it happen, to have the funding, the funds, so that we can have ways of implementing the project in our country, “he said.

Centennial Energy Thailand’s chairman of the board of directors called on the Angolan investors to present their projects, noting that the objective is to invest these amounts in priority areas of Angola and throughout the country.

“The initial objective was to invest in infrastructure, but given the country’s needs, the priorities go to housing, food, schools and hospitals,” he said. “These values ​​will be invested throughout the Angolan territory.

“We are open, regardless of the needs they have, the Government or the partners have to outline the priorities,” he said.

The presentation of the fund was made today during a business technical meeting to finance private investment projects, which brought together national entrepreneurs and heads of national banks.