ICOLO E BENGO, ANGOLA — Angola has inaugurated a new Chinese-backed industrial complex as the country steps up efforts to expand local manufacturing, reduce imports and create employment.
Angola’s Minister of Industry and Commerce, Rui Miguêns de Oliveira, says the Phoenix Bridge Industrial Complex in Bom Jesus represents progress in the government’s drive to diversify the economy and strengthen domestic production.
Mr Miguêns explained that the first phase of the project represents an investment of about US$30 million and covers approximately 12.5 hectares.
The complex incorporates five manufacturing units producing construction materials including electrical wires and cables, XPS insulation, marble and granite products, solid wood products and ventilation ducts.
The Minister said producing more construction materials locally could reduce Angola’s reliance on imports while helping the country save foreign currency.
The complex has created about 250 jobs, including positions for 180 Angolan nationals drawn from several provinces.
Mr Miguêns noted that the investment also demonstrates Angola’s efforts to attract industrial partnerships that bring technology, production capacity and employment into the country.
Phoenix Bridge plans further expansion of the project, with total investment expected to reach about US$80 million as additional capacity is developed.
The development is also expected to strengthen Angola’s ability to supply construction materials to neighbouring markets within the Southern African Development Community.
Chinese Ambassador to Angola Zhang Bin attended the inauguration alongside government officials and representatives of the Angola-China business community.
The project comes as Angola seeks to accelerate growth in non-oil industries and attract more investment into manufacturing and value-added production.