In Angola 2007/2008 - (Page 17) Benguela is an ideal location for agricultural investment due to its rich soil, diverse climate, and good hydrographic conditions. Currently, there are approximately one million hectares of land compatible with agricultural activities. The province’s plans also include the improvement of major streets, roads, bridges, and other transportation structures in order to promote the movement of products and people. Currently, there is a vast number of accessible roads in Benguela, including approximately 145 bridges, five of which lead to national roadways. Benguela has two main advantages in the area of transportation: the Benguela Railway and the Port of Lobito. The famous Benguela Railway, which once transported goods to the port and, ultimately, to Europe, currently operates between Benguela and Lobito. Current revitalization efforts are aimed at widening the rail network to encompass more cities and greater distances. The Port of Lobito, which has modern equipment and a modernized infrastructure, facilitates the travel of vessels carrying goods across the Atlantic Ocean. • Farming: Rehabilitation of irrigation systems and production of primary crops, including corn, beans, bananas, and palms. • Livestock Raising: Construction of animal health facilities and raising of dairy, beef, and draught animals. THE PROVINCE OF BENGUELA • Industrial Fishing: Renovation of 52 firms that are in standstill business and that have great potential for catching fish. • Small-Scale Fishing: Education about and marketing of small-scale fishing businesses, supply of boats and fishing equipment, and construction. • Industry: Home to the country’s second-largest industrial park, Benguela offers opportunities for investment in the heavy weight industry, the light weight industry, the food industry, and other small industries. Investment Incentives • Customs Duties: Investment operations are exempt from payment of duties and taxes for a period of four years. • Industrial Tax: Profits yielded from investments are exempt from payment of industrial tax for a period of twelve years. • Capital Gains: Capital investments are exempt from capital gains taxes for a period of ten years. Investment Industries • Agriculture and Agriculture Derivatives • Livestock Raising • Industrial Fishing • Small-Scale Fishing • Industry • Commerce • Transportation Key Facts • Population: Approximately two million • Area: 39,827 square kilometers (15,377 square miles) • Average Density: Fifty inhabitants per square kilometer • Largest Municipality and Population: Lobito, Benguela: 737,000 • Commerce: Utilization of the seaport that links the province to southern Angola and the rest of the country. Benguela covers 39,827 square kilometers (15,377 square miles) of Angola, with a population of approximately two million. The average density in the area is fifty inhabitants per square kilometer. Benguela’s main objective is to revitalize and promote socioeconomic growth within the next two years. Several infrastructural changes are in the developmental stage, such as the construction of schools, health care facilities, electrical fixtures, water works, and sanitation systems. 17
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