Angola According to UNCTAD’s World Investment Report 2020, FDI flows to Angola slightly increased in 2019, with a negative inflows of USD -4 billion, compared to USD -6,5 billion in 2018. The FDI stock in the country, decreased significantly to USD 18,6 billion in 2019, compared to USD 32,4 in 2010. The petroleum sector remains the main destination for FDI flows. Most of FDI in Angola comes from China, Portugal, the USA, France and the Netherlands. Recently, trading company Toyota Tsusho and export credit agency, Japan Bank for International Cooperation (JBIC) signed a deal to invest USD 650 million in the Namibe Bay project, the first Japanese private sector’s investment in Angola. Rich in hydrocarbons, minerals, fisheries and agriculture land, Angola also has a significant hydroelectric potential. The government is trying to improve the business climate. A new private investment law was approved in June 2018, which reduces the minimum capital requirement, facilitates repatriating capital, and eliminates a requirement that local investors have a 35% stake. A competition law was also enacted in May 2018 (and an organization in charge of its implementation created in 2019) and a privatization law was adopted in 2019. The National Agency for Investment Promotion and Export (APIEX) aims to stimulate economic growth, diversify the economy, and expand private sector participation in Angola’s economy.