Angola: President campaigns for direct investment in developing countries

The President of Angola, Joao Lourenço, Tuesday said that direct investment in the economies of developing countries was critical for their economic growth.

Speaking at the 75th session of the UN General Assembly, Lourenço said that this objective could only be achieved by the coming together of developed countries, pooling resources to create funds for investment support in Africa.

“This goal may be achieved if they create funds (…), to be used by their investors interested in doing business on the African continent, where they can produce goods and services for local consumption and exportable,” the Angolan Head of State said in his virtual speech.

Prior to the UN General Assembly, the Angolan statesman also conveyed “great appreciation for the G-20 initiative,” which showed compassion to the need for collective action, for debt relief for developing countries, in order to lessen the burden of responsibility on them.

Mr Lourenço also highlighted that, in the current setting, multilateralism must always be present in the approach to the most challenging international issues bedeviling the world.

“For this reason, along the way, the United Nations has advocated multilateralism in the solution of the intricate problems of humanity”, he recalled.

President João Lourenço believes that it is in this spirit that efforts should be concerted on finding impartial and permanent solutions to the problems of the Middle East, as well as those distressing the African continent, citing the conflicts and instability that persist in Libya, and the Sahel Region among other regions of the African continent.

President Lourenço acknowledged that the nature of security problems in Africa is in many cases linked to international terrorism, the spread of religious fundamentalism and post-election conflicts.

Liberty Pazvakawambwa

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