The Angolan Government on Wednesday presented plans to create a new industrial park in Caála municipality, in Huambo province.

The park, with 1,129 hectares, is part of a wider plan to build a network of 20 industrial parks in Angola to promote industrial development, said Luís Ribeiro, an advisor to the Ministry of Industry.

The financing model for the project is still under assessment, reported official news agency Angop.

Mr Ribeiro said businesspeople willing to invest in the park would be granted lower land prices and would enjoy simpler licensing procedures.

He added that the Ministry of Industry had already received 50 applications from businesspeople interested in setting up facilities in the Caála industrial park.