ACCESS Newswire
09 Sep 2019, 17:01 GMT+10
MALABO / ACCESSWIRE / September 9, 2019 / The Government of Equatorial Guinea, represented by the Ministry of Economy, Finance and Planning (http://bit.ly/2lJ4Mqo), has concluded a successful mission at the 28th World Economic Forum (WEF) on Africa, which was held last week in Cape Town, South Africa. H.E. Minister Cesar MbaAbogo led a team of officials that joined more than 1,500 regional and global leaders to discuss how innovation, cooperation, growth and stability can help drive a sustainable future for Africa. He also touted favorable economic indicators in Equatorial Guinea and ongoing efforts to strengthen regional trade and stabilize Central Africa's currency, the CFA.
'Equatorial Guinea's presence at the World Economic Forum, provided a great opportunity to advance our country's economic interests, engaging investors and strategic development partners,'the Minister said.
'The macro-economic indicators for Equatorial Guinea and the wider CEMAC region look very positive thanks to a stable oil price and major fiscal adjustments that have improved our ability to mobilize resources,'added the Minister. 'We are creating value for our citizens that is of huge financial benefit for us. Equatorial Guinea is collecting more taxes and royalties that is showing a full recovery since the oil price collapse of 2014.'
At WEF Africa, the Minister outlined the country's roadmap to accomplish the Fourth Industrial Revolution. He also touted the success of the three investment conferences being hosted in Equatorial Guinea this year, as well as the improving ease of doing business in the country and historic efforts to increase the availability of accurate and up-to-date statistics on the country and its economy. The Minister also discussed the importance of Equatorial Guinea's membership in OPEC, whose historic oil production cuts have been credited with stabilizing oil prices and returning the industry to a new phase of investment.
'We cannot overstate the enormous value that belonging to OPEC has for Equatorial Guinea,'the Minister said. 'For countries like ours which depend on oil revenues to fuel economic growth, it is vital that we have a voice in organizations that enable us to have a global impact and help us control our own destiny.'
'With the signing of the AfCFTA and the need to develop a stronger middle class and move people out of poverty, Equatorial Guinea is going to be more competitive, and more resourceful than ever,'the Minister concluded. 'When we collaborate with our investors, we will create more jobs for our citizens and accomplish our goal of building a country where everyone benefits from the growth we create together.'
The Co-Chairs of the 2019 World Economic on Africa are Ellen Agler, Chief Executive Officer, The END Fund, USA; Jeremy Farrar, Director, Wellcome Trust, United Kingdom; Arancha Gonzalez Laya, Executive Director, International Trade Centre (ITC), Geneva; AndreHoffmann, Vice-Chairman, Roche, Switzerland; Alex Liu, Managing Partner and Chairman, A. T. Kearney, USA; and Sipho M. Pityana, Chairman, AngloGold Ashanti, South Africa.
Download image link: https://imgur.com/vNEx70h
Download image link: https://imgur.com/uZvsxvK
SOURCE: Ministry of Finance, Economy and Planning of the Republic of Equatorial Guinea (Malabo)
Get a daily dose of Miami Mirror news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Miami Mirror.
More InformationDUBAI, U.A.E.: Saudi Aramco is exploring asset sales as part of a broader push to unlock capital, with gas-fired power plants among...
MILAN, Italy: Italian regulators have flagged four non-EU countries—including Russia—as carrying systemic financial risk for domestic...
NEW YORK CITY, New York: With just weeks to spare before a potential government default, U.S. lawmakers passed a sweeping tax and spending...
PARIS, France: Fast-fashion giant Shein has been fined 40 million euros by France's antitrust authority over deceptive discount practices...
PALO ALTO/TEL AVIV: The battle for top AI talent has claimed another high-profile casualty—this time at Safe Superintelligence (SSI),...
FRANKLIN, Tennessee: Hundreds of thousands of Nissan and Infiniti vehicles are being recalled across the United States due to a potential...
ROME, Italy: Quick thinking by emergency responders helped prevent greater devastation after a gas station explosion in southeastern...
WASHINGTON, D.C.: President Donald Trump is drawing praise from his core supporters after halting key arms shipments to Ukraine, a...
MOSCOW, Russia: This week, Russia became the first country to officially recognize the Taliban as the government of Afghanistan since...
CAIRO, Egypt: This week, both Hamas and Israel shared their views ahead of expected peace talks about a new U.S.-backed ceasefire plan....
WASHINGTON, D.C.: The Trump administration has made public a visa decision that would usually be kept private. It did this to send...
MADRID, Spain: Liverpool footballer Diogo Jota and his younger brother, André Silva, have died in a car accident in Spain. Spanish...