The Government of Angola plans to streamline the approval process for private investment in the country, said Abrahão Gourgel, Minister of Economy in the African country.

Online media Macauhub quoted the Minister saying the repatriation of capital, profits and dividends would also be made easier after the amendments to the country’s private investment rules.

Under the new rules, ministerial departments will be able directly to approve investment projects up to US$10 million, Mr Gourgel was quoted as saying.

The government will give priority to investment in tourism, telecommunications and information technology, logistics, transport, energy and construction, he said.

Foreign investors would have to establish partnerships with local companies or entrepreneurs to invest on those priority sectors. Local partners would have to hold at least 35 percent of the joint venture, the Minister added.