Thursday, September 29, 2016

Equatorial Guinea raises investment prospects in Asia during oil and gas licensing round

The Republic of Equatorial Guinea raised investment prospects in Asia during a busy week of meetings in the region, a historically integral customer of Equatorial Guinea’s liquefied natural gas (LNG).

The Ministry of Mines and Hydrocarbons delegation met with several energy companies in Singapore to promote its 2016 oil and gas licensing round. The round will strengthen ties with companies in Asia, a region that accounts for more than 90 percent of Equatorial Guinea’s total oil and gas exports.

The Minister of Mines and Hydrocarbons, H.E. Gabriel Mbaga Obiang Lima, highlighted oil and gas opportunities with several companies across the energy value chain, including exploration and production, services and construction, marketing, and trading.

The Ministry delegation last week toured the shipyard of Keppel Offshore and Marine, a company responsible for the construction of the Fortuna floating liquefied natural gas project (FLNG). The Government of Equatorial Guinea is negotiating terms with offtakers of the 2.2 million tons per year that the FLNG is expected to produce.

“Equatorial Guinea has been responding to the tectonic shifts in market conditions with a long-term strategy that makes us competitive at every level of the energy supply chain. We have a well-established production base of offshore oil and gas assets, more exploration underway and big export projects that will continue to sustain the long and proud trade relationship we enjoy with Asia’s economies,” said the Minister.

Economies in Asia are integral to Equatorial Guinea’s LNG development but Europe is expected to emerge as an attractive competitor in the coming years.

Equatorial Guinea produces 3.4 million tons per year of LNG.

Monday, September 26, 2016

Equatorial Guinea Fully Prepared to Host Africa-Arab World Summit

Ambassador to Ethiopia and the African Union highlights sophisticated conference facilities, hotel sector and logistical preparation in meeting with Arab and African leaders.

Equatorial Guinea is moving forward with logistical arrangements for the Africa-Arab World Summit to be held in Equatorial Guinea in November and expects a successful conference, said Simeon Oyono Esono, Ambassador of the Republic of Equatorial Guinea to Ethiopia and the African Union.

Ambassador Oyono Esono briefed African and Arab-state representatives during the Ministerial Meeting of the Africa-Arab World Partnership Committee September 24.

“The Government of Equatorial Guinea has made a strong commitment for the success of the Africa-Arab World Summit by ensuring the effectiveness of management in the logistic field as well as towards the administrative facilities, in accordance with the Headquarters Agreement, whose signature between the parties will take place in the coming weeks,” he said.

He reminded delegates that Equatorial Guinea’s president, Obiang Nguema Mbasogo,
President of the Republic of Equatorial Guinea, is personally committed to the success of the summit and was honored that the African Union had entrusted Equatorial Guinea with host responsibilities.

Ambassador Oyono Esono highlighted the country’s strong infrastructure supporting important international meetings, including the large and sophisticated conference center in Sipopo, which includes villas appropriate for lodging heads of state and their staffs and a large and modern hotel sector that meets all international standards.

He said that local transportation and security had been areas of particular focus in the government’s planning.

“We believe undeniably that this high-level Summit will progress in conditions that will really bring out the characteristic hospitality of the African people and the people of Equatorial Guinea,” he said.

Equatorial Guinea’s Minister of Foreign Affairs and Cooperation, Agapito Mba Mokuy and Permanent Representative of Equatorial Guinea to the United Nations, Anatolio Ndong Mba and all other members of the Equatorial Guinea delegation were also at the meeting.

Thursday, September 22, 2016

Equatorial Guinea Prioritizes Economic and Social Transformation Through Human Capital Development and Inclusive and Sustainable Growth

Equatorial Guinea donates to FAO, WHO, and UNESCO as Horizon 2020 makes great strides.

Equatorial Guinea has prioritized economic and social transformation through human capital development and inclusive and sustainable growth, which aligns with the country’s Horizon 2020 Development Program, said Agapito Mba Mokuy, Equatorial Guinea’s Minister of Foreign Affairs and Cooperation, at the United Nations General Assembly.

Minister Mba Mokuy outlined the four priorities of Horizon 2020, including developing modern infrastructure; strengthening human capital and improving the quality of life for every citizen; diversifying the economy with support from the private sector; and good governance.

The program has made significant progress since implementation last year, including major reductions in the risk of maternal and infant mortality; free health service and drugs for youth and the elderly; the development of agriculture and hydrocarbons to create more jobs; the implementation of progressive gender equality policies; and electricity and sanitation for all citizens.

Mba Mokuy also noted that Equatorial Guinea has donated $30 million XAF to the Food and Agriculture Organization (FAO) to fight hunger on the African continent, $2 million and $36 million to the World Health Organization (WHO) to fight Ebola and research the Malaria vaccine, respectively, and $3 million to United Nations Educational, Scientific and Cultural Organization (UNESCO) to combat endemic diseases such as Ebola, Malaria, and Tuberculosis.

Mba Mokuy addressed the 71st Session of the United Nations General Assembly in New York amid a busy series of meetings for Equatorial Guinea, including the UN Summit for Refugees and Migrants, the U.S. Africa Business Forum, and the Community of Portuguese Language Countries (CPLP) Foreign Affairs Ministerial meeting.

Wednesday, September 21, 2016

Equatorial Guinea Active in 71st Session of the United Nations General Assembly

Equatorial Guinea Minister of Foreign Affairs and Cooperation, Agapito Mba Mokuy, who is heading his country’s delegation to the 71st United Nations General Assembly (UNGA), is actively engaged in a busy series of meetings.

Minister Mba Mokuy attended the plenary meeting of the United Nations Summit for Refugees and Migrants, a meeting convened at the head-of-government level aimed at addressing the problem of large movements of refugees and migrants and strengthening governance of international migration. It served as an opportunity to create a more responsible, predictable system for responding to large movements of refugees and migrants.

Minister Mba Mokuy also joined African Heads of State at the second U.S. Africa Business Forum, co-hosted by Bloomberg Philanthropies and the U.S. Department of Commerce. Equatorial Guinea is in the midst of an ambitious plan to diversify its economy by expanding in particular the agriculture, fisheries, mining, finance, telecommunications, manufacturing and petrochemicals sectors.

Anatolio Ndong Mba, Permanent Representative of Equatorial Guinea to the United Nations, attended a climate change conference.

Equatorial Guinea hosts a number of UN programs in its territory, including the United Nations Population Fund (UNFPA), UNICEF, and the UN Development Programme, which has conducted a national census with funding from the government.

Equatorial Guinea assumes the presidency of the Committee of Chiefs of Police of Central Africa

Equatorial Guinea assumed the presidency of the Committee of Chiefs of Police of Central Africa (CCPAC) during the 17th meeting of the governing body.

José Ondo Ondo, who assumed the responsibility, highlighted the importance of strengthening cooperation through terrorism prevention strategies and growing international nature of crime.

The Minister of National Security, Nicolás Obama Nchama, stressed the importance of military and police cooperation. This is one of the main goals of the Ministry of Defence and Teodoro Nguema Obiang Mangue as the Second Vice President of the Republic of Equatorial Guinea and Head of Defense and State Security.

Obama Nchama highlighted the significance of the meeting given the proliferation of crime and terrorism in the region with extremist groups like Boko Haram.

Obama Nchama noted recent actions by the government of Equatorial Guinea to fight crime in the region, such as the creation of a committee of experts from Interpol within Equatorial Guinea, cooperation with criminal police, and public announcements of stolen or destroyed Equatorial Guinean passports.

He also praised the strong police cooperation between Equatorial Guinea and Cameroon.

The Secretary General of Interpol, Jürgen Stock, thanked the CCPAC and praised Africa represents the diversities of rapid and extraordinary progress because of the importance leaders place on strengthening the fight against crime.

Stock also stressed the absolute necessity of maintaining security for the progress of Africa in the fight against extremist groups.

The outgoing president of CCPAC, Martin Mbarga, thanked the President of the Republic of Equatorial Guinea for organizing the meeting, and its aim to assess the progress achieved by Central African nations and security challenges in the region.

Wednesday, September 14, 2016

Equatorial Guinea Leads Trade Facilitation in Central Africa

Equatorial Guinea led trade facilitation in Central Africa in 2015 through a Government program to improve the investment climate. The new program will position the country as a major player in global trade and drive the economy of the west African nation.

Equatorial Guinea has adopted the single-window system for the registration of companies and corporations to streamline trade inflows into the country and vastly improve the country’s ease of doing business ranking with the World Bank.

On 7 September, Equatorial Guinea’s Prime Minister’s office issued an executive order to reduce the registration process from over 15 procedures to four simple steps:

Notary legalizes company statutes;
Register public deed in the Commercial Registry;
Apply for tax registration; and
Apply for registration with the corresponding Ministry (based on business purpose).

By reducing the number of steps, individuals and foreign companies can establish companies, corporations, partnerships, and branches in Equatorial Guinea easier and more affordable.

The number of days to complete the registration will be reduced from 120 days to 10 days.

Additionally, the costs of registering a business will be cut by almost 45 percent.

The Government of Equatorial Guinea has made it easier and more attractive for entrepreneurs to register their businesses, as well as foreign investors, and to comply with laws and regulations by simplifying the process. This Government program will stimulate investment in key sectors to drive economic growth in Equatorial Guinea.