Angolan company Hengye Electronics is set to invest US $20m into the construction of single and three-phase electricity and water meters in the country. Construction is due to begin between April and June this year.
The first phase of the project aims to achieve an estimated annual production of 319,000 single-phase and 19,000 three-phase electricity meters and 200,000 water meters. The laying of the first stone for construction of the factory took place in October 2020, in the Luanda-Bengo Special Economic Zone (ZEE), in the municipality of Viana, in Luanda.
According to the chairman of the company’s board of directors, Frederico Makilanda, apart from creating 350 direct jobs and 150 indirect jobs, the factory will be an asset in reducing costs associated to the import of such equipment by public companies in the sector.
Luanda-Bengo Special Economic Zone (ZEE)
The Luanda-Bengo Special Economic Zone (SEZ) is a physically demarcated space endowed with fiscal benefits and competitive advantages! To achieve this, the SEZ is equipped with infrastructures suitable for the installation of companies, national or foreign, capable of fostering domestic production, job creation, competitiveness and innovation.
The Luanda-Bengo SEZ is owned by the State, comprising 21 flexible reserves, 7 Industrial Reserves, 6 Agricultural Reserves, and 8 Mine Reserves, distributed among the municipalities of Viana (8000 hectares), Cacuaco (20000 hectares) and Icolo e Bengo (30000 hectares), in the province of Luanda, and in the municipalities of Dande and Ambriz (total of 120000 hectares) in the province of Bengo.
Special Economic Zones are common all over the world. They have been established in several countries: in China, Indonesia, India, Brazil, Kenya, Ethiopia, Malaysia, among others, to increase the competitiveness of a region and attract foreign investment. Thus, the Luanda / Bengo SEZ was also created in Angola.