Friday, July 14, 2017

Equatorial Guinea Promotes Entrepreneurship

The Republic of Equatorial Guinea promoted entrepreneurship at the recent VI Ordinary Congress of the Democratic Party of Equatorial Guinea (PDGE).

Equatorial Guinea highlighted the importance of infrastructure to further drive economic growth, continued economic diversification, and cooperation between sectors to ensure the success of small and medium-sized enterprises (SMEs).

Equatorial Guinea also emphasized reinforcing institutional capacities of ministries involved in business activity in the country; creating a new registry of cooperatives; restoring the Fund for Protection to Work (FTP) in cooperation with the Ministry of Labor; creating a fund for the promotion of economic activities in each industry; creating the Sectorial Groups of Professionals; disseminating the Uniform Act of the OHADA; implementing awareness campaigns for industries; creating professional centers in each province of Equatorial Guinea; and facilitating increased access to state contracts.

Equatorial Guinea has made significant strides in regards to economic activity in recent years as part of a Government directive to diversify the economy away from energy to include all relevant business sectors.

Economic diversification and the promotion of entrepreneurship are in line with Equatorial Guinea’s Horizon 2020 national development plan.