france angola sign business deals from oil to hotels
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

France, Angola sign business deals from oil to hotels

Arab Today, arab today

Arab Today, arab today France, Angola sign business deals from oil to hotels

President Francois Hollande (L)
Luanda - AFP

France and Angola on Friday signed business agreements covering a wide range of economic sectors from oil to hotels, which are potentially worth several hundred million dollars, French officials said.

At the head of a delegation of about 50 French company executives visiting the southern African country, President Francois Hollande hailed "a movement to increase and diversify" bilateral deals.

Hollande cited transport, tourism, the agro-food industry, water supply, renewable energy and urban development as sectors in which France sought to invest, outside the oil industry that dominates Angola's economy.

Hotel group Accor signed a contract with the local firm AAA to manage 50 Angolan hotels by 2017. AAA, which owns these establishements, ran into financial difficulties in 2013.

Total, the leading foreign oil company operating in Angola, signed two contracts with national firm Sonangol, one to step up direct cooperation in oil production and the other to distribute solar-powered lamps.

Neither company released details of how much the deals were worth.

Hollande also said that an office of the French Development Agency (AFD) would be opened in Angola to help with investments and simplify visa procedures.

"I shall also ensure that French banks can be present in Angola to make financial transitions easier," the French leader said.

"I know that the Angolan economy has for several months been suffering from the fall in oil prices, but we are sure that Angola will be ready to meet the challenge," he added.
On independence from Portugal in 1975, the Angolan liberation battle turned into a devastating civil war that lasted until 2002, at great cost to colonial industry and infrastructure.

The economy remains largely dependent on exports of oil and diamonds and more than 40 percent of the population of 24.4 million is estimated to live below the poverty line.

Other business deals announced included Air France planning to add a third weekly flight between Luanda and Paris.

The BTP Eiffage group agreed to build 104 pedestrian footbridges in a contract worth almost 200 million dollars (180 million euros), and National weather service Meteo France said it would help modernise Angola's meteorological network over seven years, in a deal worth $60 million for the first phase.

Overall, however, the agreements reached fell far short of the billion dollars announced in advance by Hollande's office.

France is the third largest direct foreign investor in Angola.

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

france angola sign business deals from oil to hotels france angola sign business deals from oil to hotels

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

france angola sign business deals from oil to hotels france angola sign business deals from oil to hotels

 



GMT 15:46 2018 Wednesday ,12 December

Festive Fashion by Dubai-based designer ASMARAÏA

GMT 09:00 2018 Wednesday ,12 December

May tours Europe in desperate bid to save Brexit deal

GMT 13:29 2018 Friday ,14 December

Turkey targets military over alleged Gulen links

GMT 09:12 2018 Wednesday ,12 December

Ford trains 1,600 motorists in Mideast, Africa in 2018

GMT 10:03 2018 Monday ,10 December

23 Palestinians arrested in West Bank

GMT 09:47 2018 Monday ,10 December

Russian ex-policeman convicted over 56 murders

GMT 19:01 2018 Thursday ,04 October

LEAD S. Korean firms offer aid for quake-hit Indonesia

GMT 11:02 2018 Tuesday ,11 December

ASE opens trading on lower note

GMT 14:08 2018 Friday ,14 December

Bank of Russia raises key rate

GMT 17:37 2017 Thursday ,04 May

Heba Rosas reveals foods that improve mood

GMT 05:35 2017 Thursday ,23 March

ECB: Protectionism may raise trade deficits
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday