Headlines routinely extol Africa as the fastest growing region in the world and Angola as the fastest growing country in Africa.

Under those headlines is an oft-told story of intensive Chinese investment, but Korea’s expansive relationship in Africa is also getting increasing attention.

Angolan Ambassador to Korea Albino Malungo said Korea’s commitment as a valuable investment partner of Angola was affirmed during the 3rd Korea-Africa Forum in October in Seoul.

“Korea is really committed in Africa,” Malungo said in a special interview with The Korea Herald on Tuesday for the 37th anniversary of Angola’s Independence Day at his offices in Hannam-dong, Seoul. On Nov. 11, 1975, the southern African state of Angola obtained its independence from former colonial power Portugal.

“On the heels of the Korea-Africa Forum we are confident Korea will be valuable partners,” he said.

This year marks the 20th anniversary of the establishment of diplomatic relations between Angola and Korea.

“After 20 years we are very happy to recognize that Korea has been a very good partner, and I expect Korea will become an even closer partner in the crucial areas of energy, sanitation, education, and rail transportation,” he said.

Malungo said he is confident Angola will bring more investment proposals to Korea in the near future especially in the areas of transportation, infrastructure and construction, as well as in the energy sector.

Angola produces about 2 million barrels of oil a day for export, making it, with Nigeria, one of the two largest energy producers in Africa. It also recently completed Africa’s very first natural gas terminal in May.

Oil-backed credit lines from China ― Angola is China’s No. 1 oil supplier ― have fueled a building boom of houses, hospitals, schools, roads and bridges. Average life expectancy rose from 45 in 2002 to 51 in 2011, and the average Angolan now has nine years of schooling compared to five in 2000.

Angola is routinely ranked as one of the fastest growing economies in the world, but what is less recognized is the country’s political stability, democratic institutions and social cohesion.

Malungo said this is an even greater achievement in the short time since the end of civil discord with the Peace and Reconciliation agreement in 2002.

“Angola showed it is a peaceful and sustainable democracy with the recent presidential election in August,” Malungo said.

“I am please to see my country is well on its way as a democratic nation,” he said. “Democracy means that if someone is recognized as popular, he will be accepted as his nation’s leader,” adding that international observers have certified that the elections were free and fair.

Angola conducted national legislative elections in which the leader of the majority party becomes the country’s president. The majority Popular Movement for the Liberation of Angola (MPLA) led by President Jose Eduardo dos Santos swept those elections with some 75 percent of the vote.

Dos Santos garnered about 80 percent of the vote in elections in 2002 and 2008. He has led Angola since 1979.

“I feel he is the father of the nation,” Malungo said. “He was able to lead the country through very difficult stages of development, through civil war, reconciliation and development. He was able to cultivate a stable democratic society through all of this,” he said. “That is why he received such a high percentage.”

“Probably this will be the last term as president for Dos Santos. Let’s see what will happen,” he said.

“Brothers and sisters were fighting against themselves. Angola is still very new nation, and it is a nation of different ethnic communities, languages and cultures. Angola needs someone who can be a guide for a truly national reconciliation program.

Malungo was directly involved in peace negotiations with UNITA through the 1990s.

Mulango, who was in charge of the Red Cross of Angola from 1998-2006 and the minister of social welfare and integration from 1994-2002, said reconciliation was fundamental to the success the country has enjoyed over the past decade.

“We need someone to be the symbol of the nation, that even we are from different regions, of different ethnic groups, we are one nation,” he said. “For me, having a single man, elected with 72 percent of the vote, is so meaningful and important for reconciliation and development.”

Independence Day, celebrated on Nov. 11, is the most important day for Angolans and Peace and Reconciliation Day, which falls on April 4, is the 2nd most important day.

Between 2002 and 2008, gross domestic product rose 260 percent and the average annual growth rate registered 14.6 percent. Even taking into account the inflation rate, the Living Conditions Index of the Angolan population registered an annual average increase of 20 percent.

Angola had the highest annual GDP growth in the world from 2001-2010 at 11 percent. Its per capita income surged from $1,000 to $9,000 in 10 years. Malungo said that the country’s $5 billion Sovereign Fund and its large foreign currency reserves will safeguard the nation from any shocks coming from oil price volatility

These two measures he said will help cultivate a dynamic investment climate, as well as help in developing the non-energy sectors.

Angola is committed to continuing this development trajectory with Korea as a partner, he said.

There are about 50 Korean companies doing business in Angola, including household names like Samsung, Daewoo and Hyundai.

Hyundai sells about 7,000 cars a year, and Korea built Angola’s first convention center and five-star hotel in Luanda in 2009, the Talatona Convention Hotel.

“We are issuing more visas for business people and travelers nowadays than ever before,” Malungo said, adding that now Korean government officials can travel to the southern African country without a visa.

Malungo said the two nations are cooperating to deepen business ties. Angola encouraged Korean companies to look at proposals for construction and investment in the energy production. KEPCO is sending a delegation to Angola in January.

By Philip Iglauer  (ephilip2011@heraldcorp.com)