EU-Angola Sustainable Investment Facilitation Agreement (SIFA) Now in Force
The European Commission announced that the European Union-Angola Sustainable Investment Facilitation Agreement (SIFA) has entered into force.
The agreement marks the first agreement signed by the EU on investment facilitation. The goal of the investment is to attract the foreign investments required to meet sustainable development objectives.
The SIFA will enhance the business environment in Angola by making it more transparent, efficient, and predictable for investors and will encourage sustainable investments from EU companies in the country.
The SIFA aims to enhance the business climate by implementing investment facilitation measures, including boosting the transparency of investment regulations, encouraging the use of e-government for approvals, and improving stakeholder engagement.
These facilitation efforts will benefit both foreign and local investors, with a particular emphasis on supporting small and medium-sized enterprises.
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Valdis Dombrovskis, Executive Vice-President and Commissioner for Trade, said, “I am delighted that this innovative, first-of-its-kind agreement with Angola has now entered into force.”
He added, “The Sustainable Investment Facilitation Agreement will create a modern and more sustainable investment environment in Angola, promoting economic growth for both partners. It will help diversify the Angolan economy and support responsible investment practices, strengthening the partnership between the European Union and Angola.”
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The agreement also reinforces environmental and climate standards commitments and upholds labour rights, ensuring that investment facilitation aligns with sustainability goals.
Improvements in the business environment are expected to unlock investment in promising sectors such as green energy, agri-food value chains, digital innovation, fisheries, logistics, and critical raw materials. This will aid Angola’s efforts to diversify its economy beyond fossil fuels.
The two parties will now collaborate on implementing the agreement, with the EU providing targeted technical support to boost trade and investment in Angola.
Additionally, a Committee on Investment Facilitation made up of representatives from both the EU and Angola, will oversee the agreement's implementation and explore ways to strengthen investment relations between the two regions further.
