Law No. 20/11 of May 20: establishes the Law on Private Investment, which determines the general framework of the implementation of private investment in Angola and defines the principles and arrangements for access to incentives and other facilities to be granted by State to this type of investment. It applies to all those who carry out some kind of investment in Angolan territory, regardless of nationality and origin of capital.
Private investment, along with public investment, remains a strategic state for the mobilization of human, financial, material and technology, with a view to economic and social development of the country, increasing the competitiveness of the economy, job growth and improving living conditions of populations.
Whereas the approval of Law No. 11/03 of May 13 - Law on Private Investment allowed, in essence, achieve the objectives that the state was proposing to recast that then proceeded around the system private investment;
Urges now to make the adjustments that the application of key legal instruments regulating private investment has shown to be necessary, in order to harmonize the general interests of the state and economy with private investors.
It matters, above all, maintain and enhance the rights and guarantees of private investors and introduce clear rules and procedures, simple and rapid in the approval process for private investment.
On the other hand, it is also necessary to create, for investors, a system of incentives, benefits and facilities that meet, in particular, the economic and social impact of projects on the economy.
Thus, the attractiveness of the regulatory regime of private investment does not affect the collection of public revenues, which are revealed as essential for the realization of the social function of the state.
Considering the need to adapt the legal framework for private investment to the new constitutional reality of Angola and the system of incentives and tax and customs benefits to the ongoing tax reform;
The National Assembly approves, by mandate of the people, under the combined provisions of paragraph 2 of Article 165. And paragraph d) of paragraph 2 of Article 166. Both the Constitution of the Republic of Angola, following: