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December 16, 2013

Economic Zone: An Agreement Signed Between Mauritius and Congo

Establish special economic zones in the Congo. This is the objective of Mauritius and the Congolese government. It is in this context that the Board of Investment (BOI) and the Ministry for the Presidency of the Republic for Special Economic Zones of the Republic of Congo have signed on Thursday a memorandum of understanding at the hotel Labourdonnais in Port Louis.

This agreement for the establishment of Special Economic Zones in Congo provides the realization of an agreement which was signed on 10 July 2011 during the official visit of the President of Republic of Congo, Denis Sassou Nguesso. The President of the BOI, Maurice Lam pointed out that Mauritius is in a privileged position due to sent by the Congolese government and in the days to come strong signals a 'Working Committee' will be set up.

During a 'Business Forum' held the same day, representatives of public and private sectors were present to discuss opportunities to exploit the Minister for Special Economic Zones, Alain Akouala Atipault. The latter noted that the Congolese economy is mainly based on the exploitation of hydrocarbons along the Atlantic coast. This activity represents about 90% of exports. Wood, oil and agriculture also remain important pillars.

However, during the discussions Mauritian operators have identified two sites that are problematic: the customs formalities to expedite trade and the training of human resources. Operators felt that there was a lack of coordination in procedures regarding trade. While Alain Akouala Atipault said that a feasibility study is underway to find solutions.

He also mentioned problems with the infrastructure. Regarding training, the minister announced that he wants to implement a 'MITD at Congo. The Minister wished welcome Prime Minister Navin Ramgoolam, next year, for a state visit. Financial Secretary Dev Manraj, also present, assured that the government will next operator for assistance to facilitate their entry into the Congolese market.

 

 

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