Tuesday, February 27, 2018

Equatorial Guinea Vice President Highlights Importance of Economic Diversification under Horizon 2020 Program, Strengthens Bilateral Relations with China

The Vice President of the Republic of Equatorial Guinea in charge of National Defense and State Security, Teodoro Nguema Obiang Mangue, highlighted the importance of economic diversification under Equatorial Guinea’s Horizon 2020 sustainable development program in meetings this week with the Prime Minister of Government in charge of Administrative Coordination, Francisco Pascual Obama Asue.

The Vice President stressed the importance of educating Equatorial Guineans about the payment of taxes as an additional revenue stream for the Government, moving away from dependence on oil.

The Vice President also noted that negotiations with the International Monetary Fund (IMF) have concluded, where Equatorial Guinea needs to sign an economic adjustment program in order to receive financing.

The Vice President congratulated the Prime Minister and the Government Committee for their work to convey to the IMF that Equatorial Guinea needs to finance its future projects.

The Vice President also strengthened bilateral relations with the People’s Republic of China in a meeting with the Chinese Ambassador, Chen Guoyou.

The two discussed cooperative relations between the two countries. Equatorial Guinea and China enjoy strong ties, and the President of the Republic of Equatorial Guinea, HE Obiang Nguema Mbasogo, was recently invited by the Ambassador to the upcoming China-Africa Forum, which will be held in September.