![[Angola] Government set to adjust customs tariff to protect domestic production](Images/2018/08/Luanda.jpg)
[Angola] Government set to adjust customs tariff to protect domestic production
The new Customs Tariff in force since August may be subject to some adjustments, after evaluating internal production capacities, Angola’s Finance Minister Archer Mangueira has said.
"We are working with various institutions to evaluate the areas where there is capacity to satisfy domestic demand and we will certainly need some readjustment there," the finance minister told the press on Saturday when he visited Expo-Indústria e Projekta 2018 , which ran from 14 to 17 of the current month in the Special Economic Zone (EEZ), in Luanda.
The readjustment in the Customs Tariff, he added, will be done whenever and when it is observed that the domestic production already satisfies or at least contributes (the production), significantly for the reduction of the imports.
He recalled that the Draft General State Budget Law 2018 included certain rules in order to allow the holder of the Executive Branch to make specific adjustments to the Customs Tariff 2017.
As for the financing facilities, one of the concerns raised by some businessmen and producers, said the Executive has state to "design" financing facilities for later being passed on to the productive sector.
He said that negotiations with international financial institutions interested in financing the productive sector are under way.
The General State Budget for 2019, according to the minister, is another instrument that also provides resources for financial institutions focused on the productive sector.
The bet, according to Archer Mangueira, is the diversification of the economy so that, definitely, Angola reduce dependence on the outside and also diversify exports.
He recalled that the new Private Investment Law is another incentive tool and creates an environment conducive to private investment in Angola, which will give another dynamism of local production and entry of new operators into the market.
