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The Lobito Corridor has unparalleled potential to transform economic dynamics, promoting integration, says Inês Sequeira Mendes, managing partner of Abreu Advogados.
More than just an economic endeavor, according to the executive who spoke this Friday, the 4th, during the opening of the conference “Lobito Corridor: Impacts on Angola and Sub-Saharan Africa,” the Lobito Corridor will ensure connectivity and new business opportunities.
For Luís Marques Mendes, State Counselor in Portugal and Chairman of the Strategic Council of Abreu Advogados, the strengths of the Lobito Corridor are significant. He explained that the visit of the President of the United States, Joe Biden, signals a shift in the political orientation of both the American and Angolan governments.
“The major political significance is that the United States is committed to the Lobito Corridor. Angola gains new economic centrality. With this, the Americans send a global message that Angola is a great place for investment opportunities,” says Luís Marques Mendes.
Meanwhile, Angola’s Minister of Transport, Ricardo Viegas de Abreu, stated that the government has an investment estimate necessary to address the gaps in Angola’s infrastructure, transport, and logistics sectors, amounting to approximately 1.4% of the Gross Domestic Product (GDP) annually.
“Therefore, these would be the ongoing investment needs in the infrastructure sector, and this 1.4% of GDP, which corresponds to around 1.7 billion dollars, would not necessarily have to come from public financing,” he emphasized.
This, according to the Minister of Transport, “opens up the need for us to find ways to bring the private sector to participate with us in this effort to accelerate the transport and logistics sector.”
