Welcome to U.S Angolan Chamber of Commerce
On behalf of the U.S. - Angola Chamber of Commerce (USACC), it is my pleasure to acquaint you with the Chamber and its role in engaging U.S. and Angolan investors alike. At a time in which all government’s resources and efforts are geared towards reconstruction and development initiatives, Angola offers prosperous business opportunities for Angolan and American firms interested in investing in Angola.
Why Invest In Angola?
Since signing the latest peace agreement in early 2002, Angola has experienced 6 years of sustained stability and growth that has been critical to its development and growth. In the past three years, the country has embarked on an ambitions reconstruction program. Luanda, the capital of Angola, has characteristics of a city with a great development potential. The Government of Angola (GoA) views civil construction as the country's top priority within this new socio-economic context. Several buildings are being built in various points of the capital. Many of the provinces outside of Luanda are also developing through expanding necessary infrastructure to better connect the country.
Angola is experiencing an unprecedented economic boom. In May 2008, the Organization of Petroleum Exporting countries (OPEC) confirmed Angola's oil production at 1.9 million barrels per day. The growth in this industry has had substantial spillover effects, spurring investment in the financial services, construction, and agriculture sectors. According to the International Monetary Fund (IMF), Angola's GDP grew by over 20% in 2007 making it Africa's fastest growing economy and the fourth fastest in the world. New businesses are registering everyday, fostered by an environment of peace and stability in the country and a new private investment law, that has expanded incentives for investors. Although a majority of U.S. companies remain focused on the oil and gas sector, non-oil sectors have also seen an increased presence of U.S. companies.