Angola to Introduce Tax Incentives for Diamond Investors

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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.

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Charné Hollands

Charné Hollands

Charné Hollands is the Deputy Editor at Energy Capital & Power. She holds a Higher Certificate in Professional Photography and Masters in Media Studies from the University of Cape Town. Charné writes content for ECP's website and events as well as co-authored African Energy Chamber: Road to Recovery.

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