Monday, July 16, 2018

Equatorial Guinea Reiterates Commitment to Economic Diversification

The Republic of Equatorial Guinea, through its Secretary of State and Head of Monitoring the Horizon 2020 Sustainable Development Plan, César Augusto Mba Abogo, reiterated its commitment to economic diversification at the United Nations Economic Commission for Africa in Malabo.

The Secretary of State, also joined by the Minister for Finance, Economy, and Planning, Lucas Abaga Nchama, highlighted the importance of diversifying Equatorial Guinea’s economy away from a reliance on energy to continue achieving the country’s ambitious Sustainable Development Goals (SDGs).

Equatorial Guinea has invested considerable capital in sustainable development, including the construction of the extensive road network, ports, airports, industrial structures, and telecommunications networks.

Equatorial Guinea is also focused on the development of agriculture, drive by commerce and further urbanization.

Equatorial Guinea registered one of the strongest periods of economic growth in the African continent from 1993 to 2012.

The strengthening of economic diversification is in line with Equatorial Guinea’s Horizon 2020 development program goals. Equatorial Guinea is focused on the training and empowerment of the private sector in mining, fisheries, tourism, agriculture, telecommunications, health, and infrastructure development.