Report on Investment Business Climate in Equatorial Guinea
Sub-Saharan Africa (SSA) has had a significant participation among high growth countries, given that between 2001-2011, 6 countries among the top 10 belong to this region, and the IMF estimates for the next five years the share will be even higher, reaching 7 from 10 countries, with some projections from private banks that have significant regional coverage, such as Standard Chartered estimate 7% growth for the next 20 years. This is the background against which this study for Equatorial Guinea has been developed.
Given the population, market size, the managerial, technological, commercial and entrepreneurial capacity existent in Equatorial Guinea (EG), growth and development of the country should be based on the export and production of tradable goods and services that meet both the needs the internal and the external markets and the development of economic and social infrastructure as well as the construction and provision of housing, public works and social services aimed at welfare of the population.
The country has an abundant wealth of non-renewable resources being used properly, which set the stage for the diversification of its economy and improvement of economic infrastructure and social conditions. On the other hand, Equatorial Guinea has a number of renewable natural resources: forests, land, fertile soil, adequate rainfall and climate, compared to the rest sub-Saharan Africa in which only 5% of agricultural land has irrigation, being therefore subject to frequent droughts and famines.