The agreements, signed during the Emirati president's visit to Luanda, are expected to impact sectors from public finance to military cooperation and port management.

The United Arab Emirates (UAE) will invest nearly $6.5 billion in the Angolan economy, formalized through 44 legal instruments signed between the two countries, according to a Monday post on the Angolan presidency's Facebook page.

The investment package was announced during a 48-hour visit by UAE President Sheikh Mohamed Bin Zayed Al Nahyan, who was in Luanda at the invitation of his counterpart, João Gonçalves Lourenço.

The legal instruments, which include agreements, memorandums of understanding, and protocols, cover a wide range of sectors, including public finance, agriculture, health, education, and artificial intelligence. They also encompass military cooperation, visa exemptions for certain passport categories, and investments in the mining and customs sectors.

According to the Angolan Head of state, the agreements will have "an undeniable impact on the creation of thousands of jobs, which will mainly benefit young people with different levels of qualification."

This first official visit by the Emirati president to Luanda served to expand and strengthen bilateral relations and consolidate the UAE’s presence in Africa.

In 2023, Abu Dhabi and Luanda discussed and negotiated a Comprehensive Economic Partnership Agreement (CEPA) aimed at reducing tariffs, facilitating market access, and creating platforms for mutual investment. According to Thani bin Ahmed Al Zeyoudi, the UAE's Minister of Foreign Trade, this partnership is expected to increase bilateral trade to $10 billion annually by 2033.

In April 2024, Abu Dhabi Ports Group signed a 20-year concession contract, extendable by 10 years, with the Port Authority of Luanda to modernize and operate the multi-purpose terminal. The deal includes a $251 million investment between 2024 and 2026.

Lydie Mobio