Angolan president vows to end monopolies

Angolan President Joao Lourenco said Monday in Luanda that he envisages an end to national monopolies and other wrong doing of the Angolan economy.

The president was addressing a State of the Nation speech at the opening of the first Session of the Parliament's IV Legislative Year after the general election of August 23.

Lourenco said his Government will establish a legal environment that facilitates business, free initiative and competition that secures the consumers' rights.

He highlighted that a competition law will be submitted to Parliament soon.

The head of State underlined that he will also guarantee fiscal incentives for companies that are willing to invest in the countryside, particularly those that contribute to reduce regional asymmetries and poverty and increase jobs and families' revenues.

Lourenco said that his Executive will also hold meetings with local and foreign investors to discuss ways to overcome existing constraints in the national economy.