Chinese investments in Angola hit US$370 mln in 2014

Direct investment from China to Angola more than doubled last year to US$370 million, said the Chinese Embassy in the African country.

The figure represented a 105.5 percent increase from the aggregate investment of US$180 million in 2013, according to an annual report published by the Embassy this month. Such investment has risen rapidly from the US$10.21 million recorded in 2009.

“Since a strategic co-operation partnership was established between China and Angola in 2010, bilateral trade has developed in a sustainable, rapid and healthy way, while both sides have yielded fruitful results from co-operation on energy and infrastructure,” the report said.

“Angola has become a major trade partner of China in Africa,” it added.