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AfricaJune 1 2011

Investors overcome Angola's bureaucracy

Angola is increasingly attracting foreign investment, as companies start to look beyond the nation's onerous bureaucracy to its strong investment potential, political stability and increasing transparency.
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Investors overcome Angola's bureaucracyInterContinental Hotels is building a 400 room hotel with casino in Luanda

The creation of Afritaxi, a company with a fleet of 300 taxis, and Fly540 Angola, the country’s first internal airline operating to international standards, show that it is possible for local and international businesses, other than the multinationals in the oil and financial sectors, to establish successful and profitable companies in Angola.

Business leaders in capital city Luanda say that considerable progress has been made in the past two years as government bureaucracy has improved and pressure has grown for greater transparency. However, enormous patience, an understanding of the local market and strong financial backing to cover financial exposure while projects are being approved are still required when doing business in the country. It is also advisable to have a local partner; while there is no formal requirement, there appears little doubt that it puts companies in a more competitive position.

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