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Get to Know About Angola
Angola, which is located in South Africa, is a nation whose economy is developing at a fast rate. It has large amounts of minerals and natural resources like copper, gold along with oil and petroleum, to name a few. It is because of oil reserves and diamond mines that Angola has progressed economically over the last few decades.
Post the civil war, Angola’s economy has been increasing steadily; especially the agriculture sector has seen significant growth. There is a lot of potential for growth in infrastructure and telecommunication in this country. Another decisive factor for doing business in Angola is the increasing literacy rate, which has been showing improvements over the past couple of decades.
For businesspeople, Angola offers many opportunities as the government, which is keen to reduce its dependence on oil has changed its policy on sectors like education, financial services, construction, etc. The abundance of natural resources, together with growth in infrastructure, also is a boon for investors. Industries like hospitality, health, education can avail the special tax benefits offered by the government.
One major factor that is a disadvantage for foreign investors is the infrastructure that still needs to be developed to meet the international standards. Other factors which may want you to think twice before investing in Angola include high costs of running businesses, shortage of skilled workforce, language problems, corruption and underdeveloped networks of communication.