Luanda, July 21, 2026 (Lusa) - Angola's Secretary of State for Finance and the Treasury, Ottoniel dos Santos, has called for Portuguese companies to view the country «not merely as a target market, but as a production hub» and a gateway to other African markets.
«It is important that Portuguese companies view Angola not merely as a target market, but as a platform for production, value creation and access to other African markets,» said the minister, on Monday evening in Luanda, advocating a new phase of cooperation centred on productive investment.
Ottoniel dos Santos also commented on the foundations of the bilateral relationship, arguing that economic ties between the two countries cannot be based solely on historical proximity and a shared language.
«These factors are important advantages, but they are no substitute for competitiveness, innovation, financial capacity or the quality of management,» he declared, adding that friendship «brings countries closer together», but it is «trust, competence and results» that underpin lasting relationships.
The minister was speaking at the opening of the 9th Angola-Portugal Business Networking event, held at the Epic Sana Hotel in Luanda, on the eve of the opening of the 41st Luanda International Fair (FILDA).
The secretary of state called for the new phase of cooperation to prioritise partnerships that build capacity in Angola, train national staff and support local suppliers, highlighting opportunities in sectors such as agriculture, agri-industry, fisheries, manufacturing, renewable energy, tourism, healthcare, logistics and financial services.
He argued, in the same vein, that it is important to create the conditions for more Angolan companies to gain access to the European economic area via Portugal, within a «two-way, mutually beneficial» business relationship.
He emphasised Angola's commitment to diversifying the economy, strengthening the private sector and reducing dependence on oil revenues – an effort that requires investment, technology, skilled labour and a more favourable economic environment.
The minister acknowledged, however, that businesspeople continue to face constraints relating to access to finance, operating costs, bureaucracy, logistics, the availability of foreign currency and the predictability of certain procedures, arguing that these concerns must be listened to and not addressed «merely with declarations of intent».
He also highlighted small and medium-sized enterprises, which account for a significant proportion of employment but face greater difficulties in accessing finance, technology and markets.
The 9th Angola-Portugal Business Networking event was organised by the Portugal-Angola Chamber of Commerce and Industry (CCIPA) in partnership with the Portuguese Business Association (AEP) and the Portuguese Agency for Investment and Foreign Trade (AICEP), on the eve of the Luanda International Fair (FILDA), considered the largest international event held in Angola, which takes place from Tuesday to Saturday in the Luanda-Bengo Special Economic Zone.
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