Angolan Ministry of Mineral Resources and Petroleum has announced plans to attract further investment into the country’s diamond mining industry through the introduction of tax incentives for diamond-cutting financiers and operators.
According to the country’s Minister of Mineral Resources, Petroleum and Gas, Diamantino Azevedo, the tax incentives aim to promote competitiveness and increase job creation while facilitating technology transfer across the expanding industry.
Minister Azevedo announced the tax amendments during the inauguration ceremony of the fifth diamond-cutting factory at the Saurimo Diamond Development Park, located in Lunda Sul Province.
With the park already representing a key driver towards economic diversification, skills transfer and the strengthening of in-country diamond processing, the tax incentives will further enhance this trend.
The move falls under efforts by the Ministry to improve the operating conditions for diamond investors in Angola as the country targets widespread industry growth and resilience.