Chinese private sector welcome to help transform Angola

The Angolan Embassy in Beijing has said Chinese private companies can play a crucial role making the Angolan economy less dependent solely on the oil industry, by investing in Angolan businesses that are to be privatised, the China Daily reports.

The Chinese state-run newspaper quotes the embassy as saying so in announcing the arrival in Beijing on September 16 of an Angolan government roadshow advertising the forthcoming auction of rights to mine diamonds, iron ore and phosphates in western Angola.

The report says the roadshow began this week in Luanda and will go to Dubai, Beijing and London.

The Angolan government intends to privatise 195 companies in the public sector, 32 of them big ones, by auctioning them whole or floating shares in them at the stock exchange in Luanda, the China Daily says.