Did You Know That A Sovereign Wealth Fund Can Be Commitment To Social Development?

In this article the economist Celso Anato is quoted as saying “that the institutionalisation of (Angola’s) sovereign wealth fund is one of the most important steps toward economic policy”. I googled for the fund and found this on Wikipedia:

The Fundo Soberano de Angola (FSDEA) is the sovereign wealth fund of Angola.[1][2] FSDEA is due to play an important role in promoting Angola’s social and economic development and generating wealth for its people. The fund got rated by the SWFI in February 2015 with a ranking of 8 out of 10. (…) Based on an investment policy that was approved in June 2013, the FSDEA aims to generate wealth for future generations and support Angola’s social and economic development.

And this about an innovation hub the fund has launched. Interesting stuff! Despite of all the negative stories about Angola there seems to be something positive going on.

The above mentioned article in full length:

Angola: FSDEA Aligned With 2025 Development Strategy – Economist

Luanda — The “Fundo Soberano de Desenvolvimento de Angola” Angola’s Sovereign Wealth Fund (FSDEA) is aligned with the strategy that contributes to achieving the economic development model of the country by 2025, said Wednesday the economist Celso Anato.

The expert, who was speaking to Angop in Luanda on the importance of FSDEA, said that the institutionalisation of the fund is one of the most important steps toward economic policy.

Celso Anato described the FSDEA as crucial to meet the government’s commitment to social and economic development of the country.

He considered the step as an evidence of one of its major goals to contribute to meeting the basic needs of the population as well as create greater efficiency and competitiveness in the national economy.

The FSDEA, he said, is also government’s long-term concern to reduce the weight of the oil sector on the economy and create alternative investments in agriculture, mining and infrastructure.

With this initiative, the government will increase the growth capacity of the national economy, said the expert.