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  • High-Level Angola Government Delegation Engages Singapore Companies as it Enters New Political Era

High-Level Angola Government Delegation Engages Singapore Companies as it Enters New Political Era

  • Angola is Africa’s second largest producer of oil and is the second largest sovereign wealth fund in Sub Saharan Africa with reserves of USD 5 billion

  • Currently exploring collaborations with the Singapore businesses in the areas of infrastructure, oil & gas, manufacturing, general trading, logistics and financial services
9 May 2018 [Singapore] - A high-level visiting Angola Government delegation led by H.E. Manuel Domingos Augusto, Angola Minister of External Relations updated Singapore companies yesterday, 8 May 2018, on developments under the new leadership.

The Singapore – Angola Business Roundtable organised by Singapore Business Federation (SBF), in collaboration with Enterprise Singapore (ESG) and Africa South East Asia Chamber of Commerce (ASEACC), covered impending economic reforms, sectoral opportunities stemming from economic diversification plans in Angola, and how Singapore businesses can play a role in Angola’s economic growth and development.

The roundtable, organised in conjunction with the visit of H.E. Manuel Domingos Augusto, Angola Minister for External Relations and a high-level accompanying delegation, included the Minister of Mineral Resources and Oil; the Administrator of its sovereign wealth fund; and the Executive Director of Sonagol, its national oil company, amongst others.  (Please refer to Annex A for the Delegation List.) Chaired by Mr S.S.Teo, Chairman of SBF , Co-Chairman (Southeast Asia) of ASEACC, and Executive Chairman / Managing Director of Pacific International Lines, the roundtable  was attended by representatives of 22 Singapore companies from the infrastructure, oil and gas, general trading, manufacturing, ICT and logistics sectors.

Commenting on Singapore companies’ interest in Angola, Mr S.S. Teo said:

“SBF has been actively promoting Angola as a business destination for both large companies and SMEs, and has led missions there in 2010, 2013 and 2015. The 2015 mission coincided with visit of then Second Minister for Foreign Affairs Masagos Zulkifli to meet political leaders, senior government officials and business leaders to discuss bilateral cooperation and business opportunities. We see sectors of opportunities for Singapore companies in infrastructure, oil and gas, general trading, manufacturing, logistics, ICT and professional services.” 

In consideration of Angola’s strengths in oil, gas and diamonds, and its impending diversification plans, Singapore companies can play a bigger role in Angola’s economic growth journey. Singapore can also play to its strength of being a financial hub for Angola’s sovereign wealth fund to diversify its investment and use Singapore as a springboard into ASEAN.

SBF is also exploring the possibility to lead a business delegation to Angola next year.

 

Annex A:
     

From the Ministry

No.

Representative

Designation

1

H.E. Manuel Domingos Augusto 

Minister of the External Relations (Head of the Delegation)

2

H.E. Diamantino Azevedo

Minister of Mineral Resources and Oil

3

H.E. Ms. Vera Esperança dos Santos Daves

Secretary of State for Finance and Treasury

4

H.E. Isaac Maria Francisco dos Anjos

Secretary of the President of the Republic

5

H.E. Ismael Abraão Gaspar Martins

 Administrator of the Angola’s Sovereign Wealth Fund

6

H.E. Sebastião Pai Querido Gaspar Martins

 Executive Director of Sonangol

7

Mr.  Manuel Pedro

Director in the Ministry of Finance

8

Mr. Salvador Jesus

Director of Minister of External Relations’ Office

9

Ms. Julia Silva

Head of the Department of the Unit Public Debt Management

10

Mr. Francisco Miguel – aid –de- camp

 

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