Private investment outside the oil sector in Angola tripled to $1.255 billion in the first half of the year compared to the same period last year, according to the national investment agency (ANIP).

The state-owned Jornal de Angola, quoted the head of ANIP Aguinaldo Jaime saying he expects both locals and foreigners to increase their investments in coming months as the country’s economy recovers from the global economic recession last year.

In the first half of 2009, non oil-related private investment reached $450-million. Jaime told Reuters in July that foreign direct investment outside the oil sector totalled $1.8-billion in 2009 compared to $1.2-billion the previous year.

Source: ABNDigital