Overview
AIPEX — the Agência de Investimento Privado e Promoção das Exportações de Angola — is Angola’s official investment promotion and export facilitation agency. Operating under the Ministry of Economy and Planning, AIPEX serves as the primary institutional interface between Angola and foreign investors, providing one-stop-shop services for investment registration, licensing, and regulatory navigation.
Mandate and Functions
AIPEX was restructured and rebranded from its predecessor agency (ANIP) to better align with Angola’s post-2017 economic reform agenda. Its core functions include:
- Investment promotion: Marketing Angola’s investment opportunities to international capital, with a focus on priority sectors identified in the National Development Plan (PDN 2023-2027)
- Investment registration: Processing and approving private investment projects under the Private Investment Law (Lei do Investimento Privado / PIP), updated in 2021
- Export promotion: Supporting Angolan enterprises in accessing international markets, aligned with the PRODESI programme’s import substitution and export diversification goals
- Aftercare services: Assisting established investors with operational challenges, regulatory changes, and expansion
Investment Framework
Under the updated 2021 Private Investment Law (Law 10/21), AIPEX administers a tiered incentive regime based on investment size and sector:
| Investment Tier | Threshold | Key Benefits |
|---|---|---|
| Tier I | Up to $500,000 | Simplified registration; sector-specific incentives |
| Tier II | $500,000 - $10 million | Tax holidays of up to 5 years in priority sectors and special economic zones |
| Tier III | Above $10 million | Negotiated incentive packages; government co-investment potential |
Priority sectors for incentives include agriculture, manufacturing, tourism, technology, fisheries, and infrastructure — all areas targeted for economic diversification away from oil. The 2021 law eliminated the previous requirement for Angolan partners in investments below $10 million, a significant liberalization that removed a key barrier to foreign direct investment.
Capital Markets Relevance
AIPEX plays an indirect but important role in Angola’s capital markets development. The agency facilitates the entry of foreign institutional investors who may subsequently participate in BODIVA-listed equities or sovereign debt instruments. AIPEX also coordinates with MINFIN and the BNA on foreign exchange regulations affecting capital flows, including profit repatriation procedures that are critical for portfolio investors.
As Angola’s $115.2 billion economy (2024 GDP) seeks to attract the approximately $5-8 billion in annual FDI needed to meet diversification targets, AIPEX’s effectiveness is closely watched by investors. The agency’s track record on processing times, regulatory transparency, and dispute resolution serves as a barometer for Angola’s broader investment climate.
Investor Considerations
Foreign investors should engage AIPEX early in the investment process to understand applicable incentives, registration requirements, and sector-specific regulations. The agency maintains offices in Luanda and coordinates with provincial governments for investments outside the capital. AIPEX’s cooperation with AGT (the tax authority) ensures that approved incentive packages are reflected in tax assessments. Investors should also note that AIPEX’s mandate now explicitly includes export promotion, reflecting the government’s strategic shift from import-dependent growth toward a more balanced external sector.