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Interview with the Prime Minister on the success of the Symposium on Economic Diversification

posted by – March 6th, 2014

Following the successful conclusion of the Symposium on Economic Diversification for the Government program, Horizon 2020, many members of the media were interested in knowing the reality of Equatorial Guinea. Ehate Tomi, Prime Minister of the Government for Administrative Coordination, spoke to reporters of World Investment News

According to a report of the International Monetary Fund, Equatorial Guinea is ranked as one of the best economies in 2013, particularly in the investment section. Could you tell us what the difference is between Equatorial Guinea and other African countries as an investment destination?

-“Well, there are many distinguishing features. We are in a sub-region where some countries were colonized by different powers. Some countries have a reduced ability to decide on their resources and programs they adopt. However, others have the willingness, capacity and power of autonomy to design programs and implement them, as in the case of Equatorial Guinea.”

-What specific actions will be undertaken to improve the business environment in Equatorial Guinea?

-“We can highlight the Single Window to facilitate administrative management for investors. Some laws involving significant support to those who want to invest will also change. We are going to clear the way, and facilitate investors’ easy access to Government programs. During the symposium, the Head of State announced the creation of a fund to support investment, and has set up a structure that will channel these aspects.”

Equatorial Guinea’s image abroad has not always been positive, what steps is the Government taking to improve it?

-“The Government has several initiatives. People traveling to our country are praising the work that is being carried out, and we are open to the world, to let them see what we are doing. We are also registered with the Extractive Industries Transparency Initiative Association. The significant number of ambassadors accredited in our country, and those who are applying for this status, are an example that things are going well.”

Spain and Equatorial Guinea share cultural and historical ties, what is the status of relations between the two nations?

-“Relationships are very good, Spain is classified as a country of privileged relations, with absolute respect of each of the parties.”