Wednesday, May 10, 2017

Equatorial Guinea Offers Attractive Environment for Investment, Expands Economic Ties with Arabian Gulf During Equatorial Guinea – Saudi Arabia Economic Forum

The Republic of Equatorial Guinea offers an attractive environment for potential investors and is expanding economic ties with countries in the Arabian Gulf in its main sectors of energy, fisheries, and agriculture.

Equatorial Guinea is set to boost its ties to the region during the first Equatorial Guinea – Saudi Arabia Economic Forum this week in Jeddah, Saudi Arabia.

The President of the Republic of Equatorial Guinea, HE Obiang Nguema Mbasogo, will meet with His Majesty King Salman bin Abdulaziz Al Saud to discuss areas of mutual cooperation, including hydrocarbons, agriculture, fisheries, and mining.

Equatorial Guinea offers potential investors an attractive and secure investment environment as an established leader in the hydrocarbons field that has hosted major international energy firms for decades. In addition, Equatorial Guinea has the best infrastructure capacity in West Africa, including highways, ports, airports, electricity access, and modern communications systems.

Upcoming energy projects include the Bioko Oil Terminal, a petroleum storage facility set to further boost Equatorial Guinea’s energy independence; REPEGE, a petrochemicals project to initiate the export of downstream projects; and the Fortuna Floating LNG facility, a liquefied natural gas project expected to reach FID in mid-2017 and production by 2020.

Other areas of development include investment in Bioko Island, including the improvement of aquaculture, fisheries production, construction of fishing vessels, and the installation and repair of seafood processing plants.

In addition, Equatorial Guinea is home to a favorable climate, fertile soil, abundant rainfall, and water reserves, ideal for the development of agriculture. The opportunities include the production and processing of cocoa, coffee, juices, palm oil, coconut oil, cassava, and sugarcane, in addition to the manufacturing and refinement of soap, fertilizers, and salt.