Policy towards private enterprise and competition
2017-18: Diversification efforts persist, but high levels of bureaucracy and corruption, along with poor regulation and a broadly statist government outlook, constrain private-sector opportunities.
2019-21: The long-planned stock exchange in the capital, Luanda, starts futures and equities trading. The government may sell off some loss-making parastatals in a new privatisation round, although concerns about job losses will act as a constraint.
Policy towards foreign investment
2017-18: Accession to the New York Convention improves investors' ability to secure enforcement of foreign arbitral awards. The government considers the introduction of incentives to invest in specific regions.
2019-21: Although China, Portugal and-to a lesser extent-Brazil remain major investors, the government's attempts to diversify its foreign investment partnerships are reflected in rising inflows from countries such as India.
Foreign trade and exchange controls
2017-18: The availability of foreign exchange improves with the resumption of dollar clearance by some international banks. Nonetheless, exchange-rate policy remains politicised.
2019-21: Oil price fluctuations and economic weakness continue to exert downward pressure on the kwanza.
2017-18: The government continues to overhaul the national tax system and seeks to streamline collection processes and paperwork. The government increases efforts to close down tax loopholes.
2019-21: Efforts to move more of the informal economy into the formal sector persist, opening up the prospect of increasing the breadth of taxation.
2017-18: Liquidity problems persist at some banks while levels of non-performing loans remain high. Some foreign banks, such as the state-owned Bank of China, open local branches.
2019-21: The government uses domestic bonds to fund public infrastructure projects.
The labour market
2017-18: Despite the passing of a new labour law, employers continue to struggle to find skilled manual workers. Labour costs rise, with the government introducing increases in the minimum wage.
2019-21: The employment of foreign workers remains subject to state limits.
2017-18: The sovereign wealth fund invests in infrastructure projects designed to help diversify the economy away from oil dependence, including the construction of an additional 10,000 homes at a housing development scheme in the capital, Luanda.
2019-21: The government persists with plans to add 5,000 MW to the national grid by 2025.