Amid one of the most serious economic crises of its history, Angola’s government is looking at every major economy for investors. Being Angola’s major creditor for over a decade, China is, naturally, one of the main targets. But Chinese investment is being plagued locally, not only by the dire economic conditions, but also insecurity and demands for bribes by local authorities.
A new report commissioned by the Chinese Embassy in Luanda to the Catholic University of Angola (UCAN) Center for Studies and Scientific Research, highlights the case of Guangde Internacional Group, LDA as a relevant example of Chinese investors generating wealth, jobs, wages and exports in the local economy. But after having visited the group’s facilities and talked to the entrepreneurs, the researchers also point to the difficulties faced in investing.
