LUANDA – US businesses are hoping to cash in on Angola’s plan to diversify its economy through agriculture, as other markets are suffering from the global slowdown, a government trade official said Thursday.
‘Angola has the three things you need for a successful agricultural sector – good land, plentiful water supply and capital – so there is a lot of potential for business here,’ Heather Ranck, part of a US Department of Commerce mission to Angola, told AFP.
Angola, which used to be self-sufficient in food production, now imports most of its needs because its long civil war destroyed the countryside and the farming sector.
The former Portuguese colony is heavily dependent on oil for its income and is suffering with low crude prices. The government has launched a diversification plan which includes redevelopment of the nation’s farms.
‘A lot of countries which have previously bought US equipment have been hit badly in the global downturn so there is a need to look at new markets and Angola is one of those,’ Ranck said.
‘I can already count 28 US companies who have expressed an interest in the Angolan market,’ she added.
A number of other countries are also investing in Angolan agricultural development, including China, Vietnam and Brazil. -Nampa-AFP
Stay informed with The Namibian – your source for credible journalism. Get in-depth reporting and opinions for
only N$85 a month. Invest in journalism, invest in democracy –
Subscribe Now!
