South Korean investments may facilitate technology transference

Mergers, Acquisitions and Financial Results

Luanda — The Angolan government expects that South Korean businessmen help in intensifying the economic cooperation between the two countries, based on mutual benefits and advantages, facilitating the transference of technology to Angola.

The minister of Economy, Abraão Gourgel, said so whilst speaking during an Angola-South Korea economic forum.

He added that he expected that South Korean investments facilitate the process of technology transference to Angola and improve business management, as well as contribute to the betterment of business environment and increase the productivity, mainly in the sectors of farming and manufacturing industry", he explained.

According to him, the Angolan market offers many businesses opportunities, therefore the assistances are extensive to the supply of electricity and water, refining of oil by-products, as well as other sectors such as transport, communication and commercial banking.

"South Korea is a country with a strong industrial background and focussed on exports. With a population estimated at 48 million inhabitants, a GDP superior to 1,243 million dollars and a consequent GDP per capita estimated at USD 25,000 dollars, being a country of high human development level", the minister considered.

According to the minister, the private sector is the driving force of economic growth, a reason why he asserted that private investments will guarantee the sustainability of Angola's growth.