Nors Group of Portugal and Dongfeng Motor Corp. of China have together invested US$1.2 million in a joint venture called Kin Lai, which will sell Dongfeng trucks in Angola, Lusa reports.
The Portuguese news agency quotes Nors Group Angola director Francisco Ramos as saying Kin Lai has hired 17 people as it believes selling trucks stands a greater chance of success than other sorts of business in Angola.
The report quotes a Dongfeng executive, Stuart Lennie, as saying his company is willing to set up a factory in Angola, similar the others in Nigeria and Ethiopia, if it sells enough motor vehicles there.
The joint venture shows how multifaceted Sino-Portuguese cooperation is, now featuring companies, the report quotes Portuguese Ambassador to Angola João Caetano da Silva as saying.
Chinese Ambassador to Angola Gong Tao praised on Wednesday the degree of cooperation among China, Portugal and Angola, Lusa says.