ACCESS Newswire
09 Sep 2019, 17:01 GMT+10
MALABO / ACCESSWIRE / September 9, 2019 / The Government of Equatorial Guinea, represented by the Ministry of Economy, Finance and Planning (http://bit.ly/2lJ4Mqo), has concluded a successful mission at the 28th World Economic Forum (WEF) on Africa, which was held last week in Cape Town, South Africa. H.E. Minister Cesar MbaAbogo led a team of officials that joined more than 1,500 regional and global leaders to discuss how innovation, cooperation, growth and stability can help drive a sustainable future for Africa. He also touted favorable economic indicators in Equatorial Guinea and ongoing efforts to strengthen regional trade and stabilize Central Africa's currency, the CFA.
'Equatorial Guinea's presence at the World Economic Forum, provided a great opportunity to advance our country's economic interests, engaging investors and strategic development partners,'the Minister said.
'The macro-economic indicators for Equatorial Guinea and the wider CEMAC region look very positive thanks to a stable oil price and major fiscal adjustments that have improved our ability to mobilize resources,'added the Minister. 'We are creating value for our citizens that is of huge financial benefit for us. Equatorial Guinea is collecting more taxes and royalties that is showing a full recovery since the oil price collapse of 2014.'
At WEF Africa, the Minister outlined the country's roadmap to accomplish the Fourth Industrial Revolution. He also touted the success of the three investment conferences being hosted in Equatorial Guinea this year, as well as the improving ease of doing business in the country and historic efforts to increase the availability of accurate and up-to-date statistics on the country and its economy. The Minister also discussed the importance of Equatorial Guinea's membership in OPEC, whose historic oil production cuts have been credited with stabilizing oil prices and returning the industry to a new phase of investment.
'We cannot overstate the enormous value that belonging to OPEC has for Equatorial Guinea,'the Minister said. 'For countries like ours which depend on oil revenues to fuel economic growth, it is vital that we have a voice in organizations that enable us to have a global impact and help us control our own destiny.'
'With the signing of the AfCFTA and the need to develop a stronger middle class and move people out of poverty, Equatorial Guinea is going to be more competitive, and more resourceful than ever,'the Minister concluded. 'When we collaborate with our investors, we will create more jobs for our citizens and accomplish our goal of building a country where everyone benefits from the growth we create together.'
The Co-Chairs of the 2019 World Economic on Africa are Ellen Agler, Chief Executive Officer, The END Fund, USA; Jeremy Farrar, Director, Wellcome Trust, United Kingdom; Arancha Gonzalez Laya, Executive Director, International Trade Centre (ITC), Geneva; AndreHoffmann, Vice-Chairman, Roche, Switzerland; Alex Liu, Managing Partner and Chairman, A. T. Kearney, USA; and Sipho M. Pityana, Chairman, AngloGold Ashanti, South Africa.
Download image link: https://imgur.com/vNEx70h
Download image link: https://imgur.com/uZvsxvK
SOURCE: Ministry of Finance, Economy and Planning of the Republic of Equatorial Guinea (Malabo)
Get a daily dose of St Louis Star news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to St Louis Star.
More InformationPARIS, France: France is taking stronger steps to reduce smoking. A new health rule announced on Saturday will soon ban smoking in...
WASHINGTON, DC - U.S. President Donald Trump on Tuesday claimed Elon Musk's success has been built on government subsidies. Without...
EVERGLADES, Florida: Over the weekend, a diverse coalition of environmental activists, Native American leaders, and residents gathered...
BEIJING, China: China's national soccer team may struggle to stir excitement, but its humanoid robots are drawing cheers — and not...
]LONDON, U.K.: A World Health Organization (WHO) expert group investigating the origins of the COVID-19 pandemic released its final...
DOVER, Delaware: California Governor Gavin Newsom has taken legal aim at Fox News, accusing the network of deliberately distorting...
KABUL, Afghanistan: Afghanistan, long associated with war and instability, is quietly trying to rebrand itself as a destination for...
SANTA CLARA, California: Executives at Nvidia have quietly been cashing in on the AI frenzy. According to a report by the Financial...
NEW YORK, New York - Global stock indices closed with divergent performances on Tuesday, as investors weighed corporate earnings, central...
TORONTO, Canada: Canadian Prime Minister Mark Carney announced late on June 29 that trade negotiations with the U.S. have recommenced...
Vancouver, Canada: A high-stakes legal showdown is brewing in the world of athleisure. Lululemon, the Canadian brand known for its...
LONDON, U.K.: British oil giant Shell has denied reports that it is in talks to acquire rival oil company BP. The Wall Street Journal...