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Angola H1 private investment ex-oil sector triples

LUANDA, (Reuters)

Private investment outside the oil sector in Angola tripled to $1.255 billion in the first half of the year compared to the same period last year, the head of the national investment agency was cited as saying on Tuesday.

According to state-owned Jornal de Angola, Aguinaldo Jaime said he expects both locals and foreigners to increase their investments in Angola in coming months as the African nation's economy recovers from the global economic recession last year.

In the first half of 2009, non oil-related private investment reached $450 million, he told the daily newspaper.

In July, Aguinaldo Jaime told Reuters foreign direct investment (FDI) outside the oil sector totalled $1.8 billion in 2009 compared to $1.2 billion the previous year.