On May 20, 2011, the Angolan government published the new Law on Private Investment, offering a number of investment-promoting measures that may benefit domestic and foreign investors. The law applies to investments of more than one million US dollars (up from US$ 100,000 under the previous private investment law); the petroleum, banking and diamond industries are excluded from applicability of the law. Smaller investments are not subject to the new law.
 
All investments that are within the scope of the new law are subject to a contract between the National Private Investment Agency (ANIP) and the investor. This contract sets out the conditions for investment and the incentives granted to the investor. A number of tax and customs incentives can be granted, depending on the specifics of the contract. However, all of these incentives will be provided on a case-by-case basis.
 
The tax benefits and incentives include, amongst others (see Law no. 20/11 and Clifford Chance):

•  temporary industrial tax reduction or exemption,
•  tax reduction or exemption on acquisition of property,
•  temporary capital gains tax reduction or exemption,
•  tax deductions,
• tax payment deductions,
• accelerated amortisation and depreciation,
• tax credits, and
•  extension of tax payment deadlines.

 
For this measure, the affected trading partners are defined on the basis of the UNCTAD report on FDI in Least Developed Countries of April 2011.