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Angola: Micro, Small and Medium-Sized Companies Get New Regulation

Luanda — The Economic Commission of Cabinet Council approved Friday a new regulation of the Law on Micro, Small and Medium Enterprises, aimed at improving the business environment in the country, states a communiqué released at the end of the session chaired by the President João Lourenço.

It states that the move is meant to respond to the requirements of the current context, establishes the procedures for classification, constitution, certification and accountability.

The Angolan Executive wants to foster the development, competitiveness of micro, small and medium-sized companies, as well as individual traders.

The aim is to generate jobs and improve income distribution, social inclusion, reducing informality and strengthening the economy.

The meeting also approved measures for the management of marine fisheries, continental fisheries, aquaculture and salt for the year 2021, as part of the protection of aquatic ecosystem resources and fisheries policy

The Economic Commission also approved the project for the recovery of urban solid waste in the province of Luanda, which contains the measures for the implementation of a new collection and treatment model, with greater installed capacity for this purpose.

On the other hand, the session approved the balance sheet report of the National Development Plan 2018/2020 aimed at ensuring the implementation of the measures planned for the said period and assesses the degree of achievement of the planned objectives.

In terms of the State’s financial activity, the Economic Commission approved two balance sheet reports on the execution of the National Treasury’s financial programming – the fourth quarter of 2020 and the financial year 2020.

The Commission also approved the National Treasury cash plan execution balance report for December 2020.

Finally, the Economic Commission was informed about the evolution of the foreign exchange market during 2020, as well as the monetary policy measures that the National Bank of Angola has been implementing, with a view to improving liquidity control in national currency.

It states that the move is meant to respond to the requirements of the current context, establishes the procedures for classification, constitution, certification and accountability.

The Angolan Executive wants to foster the development, competitiveness of micro, small and medium-sized companies, as well as individual traders.

The aim is to generate jobs and improve income distribution, social inclusion, reducing informality and strengthening the economy.

The meeting also approved measures for the management of marine fisheries, continental fisheries, aquaculture and salt for the year 2021, as part of the protection of aquatic ecosystem resources and fisheries policy

The Economic Commission also approved the project for the recovery of urban solid waste in the province of Luanda, which contains the measures for the implementation of a new collection and treatment model, with greater installed capacity for this purpose.

On the other hand, the session approved the balance sheet report of the National Development Plan 2018/2020 aimed at ensuring the implementation of the measures planned for the said period and assesses the degree of achievement of the planned objectives.

In terms of the State’s financial activity, the Economic Commission approved two balance sheet reports on the execution of the National Treasury’s financial programming – the fourth quarter of 2020 and the financial year 2020.

The Commission also approved the National Treasury cash plan execution balance report for December 2020.

Finally, the Economic Commission was informed about the evolution of the foreign exchange market during 2020, as well as the monetary policy measures that the National Bank of Angola has been implementing, with a view to improving liquidity control in national currency.