Doing business in Angola– Rewards and Challenges

The Economy  Petroleum-based economy – about 45% of GDP, 85% of government revenue, and 95% of exports  5.1% growth in 2013, but projected to be less in 2014 – Non-oil sector expanding much more than oil sector, and responsible for most new growth  Unemployment rate is 26%  Inflation of 9.3% in 2013, but was over 100% in 2002  Highly unequal income distribution– 36% below poverty line  181st out of 189 in latest World Bank Doing Business report

Opportunities for U.S. Business Trade with U.S. has tripled in past ten years  Infrastructure  Energy Generation & Distribution  Oil & Gas – products & services  Franchises  ICT and telecommunications  Transportation  Education  Medical Devices & Healthcare  Safety & Security  Mining  Agribusiness & Food Processing

Challenges for U.S. Business  Corruption and Government Controls/Bureaucracy – 153 out of 175 on Transparency International Corruption Perception Index – 160 out of 178 in Heritage Foundation Economic Freedom Index  History with the United States  Portuguese language  Competition that does not follow the same rules  High costs and difficulty of financing  Visa wait time and conditions

Eric Olson Senior Commercial Officer– U.S. Embassy Luanda David Ballard Advisor– Global Markets Africa export.gov | 800.USA.TRADE