Angola Invites India to Invest in Diamond Mining and Processing

Luanda — The director for the financial area of the national diamond trading company (SODIAM), Fernando Amaral, recently called for foreign direct investment from Indian companies.

The senior official of SODIAM launched the appeal last Thursday, during the first virtual meeting between representatives of the two States, organised jointly with India Global Connect.

“Diamonds are an important source of income for Angola and with the new modalities and diamond policy SODIAM would like to sell its product through websites, tenders and in recognised markets”, explained Fernando Amaral.

He said that Angola planned to sell its rough diamonds through the Special Notified Zones (SNZs) in India, and the GJEPC and SODIAM may also sign an agreement aimed at strengthening trade relations with India.

In this regard, Colin Shah, president of the GJPC, admitted that Angola’s proposal for India investing in diamond mining and processing is a profitable offer that should be taken seriously.

Ambassador Pratibha Parkar, for her part, welcomed the fact that Angola wanted to leaving excessive dependence on oil exports, focusing on the diversification of its economy.

According to the head of India’s diplomatic mission in Angola, her country accounts for almost 10% of the country’s exports.

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