No Turning Back
Equatorial Guinea has overcome the barriers that have discouraged private investment,” H.E. President Obiang Nguema Mbasogo told the Emerging Equatorial Guinea conference in Malabo in February 2014.
In the last 20 years, Equatorial Guinea has in fact undergone a significant transformation. Modern infrastructure supports the country’s socio-economic growth. Advanced power and highway networks, new ports and airports and progress in education and healthcare mean that Equatorial Guinea can provide a vastly improved quality of life for its people and an ideal climate for investment.
Horizon 2020, a government plan to diversify the country’s economy, aims to develop key sectors – education, health, agriculture, fisheries and processing industries – that will bring long-term value to Equatorial Guinea and its people. Its success depends on international partners that are willing to invest in the country’s economy and society.
The government’s strong commitment to development means that opportunities abound for investors. Oil and gas, discovered in the 1990s, has been developed by predominantly American companies. Chinese firms are building many of the nation’s new office towers and roads. In 2015, the government of Equatorial Guinea continues its development agenda with ambitious programs in public health, higher education, transport infrastructure and petroleum processing and storage.
Investors that bring finance, knowledge and long-term commitment are welcome and are rewarded with a highly competitive incentive program. To attract foreign capital and expertise the government offers the lowest tax rates in Central Africa, income tax deductions for employers of nationals, credit for exporters of non-traditional products and additional exemptions for small and medium-sized businesses.
A drive for socio-economic development supported by foreign partners in key sectors makes Equatorial Guinea a leading investment destination in Africa. As the president told attendees at Emerging Equatorial Guinea, “there is no turning back.”