….As DRC woes Investors during Country Investment Forum
The Democratic Republic of Congo’s Minister of State and Planning, Hon Christian Mwando Nsimba Kabulo, has stated that the African continent presents innumerable opportunities for investors because of its enormous untapped economic potential while also becoming one of the most sought-after investment destinations.
The Minister intimated that DRC in particular, boasts some of the most abundant natural resources on the planet and with a strong economy, rich farmland and bountiful mineral wealth, the DRC is progressively building towards a brighter future.
Hon Kabulo made these remarks in his Keynote address, “The Democratic Republic of Congo’s Strategic Development Plan – A look into progress” at the Invest in DRC Forum, held recently in Dubai,UAE as one of the major highlights of the ongoing Expo 2020 Dubai.
“We’re proud to say that this event has encouraged people to do business in our country, encouraging a sustainable and innovative business culture within the Democratic Republic of Congo”, Hon Kabulo intimated.
Hon Theo Ngwabidje Kasi, Governor of Sud-Kivu Province of the DRC,on his part spoke on the the topic, “Unleashing the True Potential of the DRC” and also presented to the audience some of the projects seeking funding in his Province, in the mining, infrastructure, energy and industrial sectors
Mr. Anthony Nkinzo Kamole, Managing Director of the National Investments Promotion Agency (ANAPI), DRC, also spoke on the topic, “Governing Foreign Direct Investment: Regulatory Incentives”.
H.E., Felix Tshisekedi, President of the DRC, on his part, stated that, his country is constantly seeking opportunities and investors from across the globe to come in and invest in the country.
ANAPI,he noted, the country’s Investment Promotion Agency, facilitates foreign investments by simplifying the investment process, improving transparency, assisting new foreign investors, as well as improving the image of the DRC as an investment destination.
After experiencing its first recession in 18 years in 2020 due to the adverse effects of the Covid-19 pandemic, the DRC’s economic outlook for 2021 and 2022 is favorable if the pandemic is brought under control and as global demand recovers. President Felix said, real GDP is expected to grow by 3.3 percent in 2021 and 4.5 percent in 2022, thanks in particular to higher prices for the main mining products and a recovery in consumption and investment, as well as major projects in the agriculture, infrastructure and ICT sectors.
In addition, he further noted, the continuous efforts to rationalize public finances the government has initiated should make it possible to reduce inflation to an average of 11.7% over the period, 2021-2022.
The event also featured a round table discussion on “The DRC Experience” with Congolese entrepreneurs, Yves Kabongo, Managing Director of KGB Capital, and Eric Monga, Managing Director of KIPAY Energy, who came to share their field experience in doing business in the country.
Following the panel discussion, topics such as, “Exchange of economic expertise towards investment readiness & competitive economies”, “Mainstreaming ESG Initiatives”, “DRC Digitalization Perspectives”, “Economic diversification and access to credit information as one of the main achievements in propelling investments in the region”, and “Peojetc Talk- DRC Electricity Sector” were addressed respectively by Omar Khan, Director, International Offices, Dubai Chamber; Balaji Nagabhushan, Group Chief Administrative Officer, Tristar; Dominique Migisha, Special Advisor on Digital to the Head of State, Democratic Republic of Congo; Miguel Azevedo, Head of Investment Banking for the Middle East and Africa, Citigroup; Jean-Bosco Kayombo, Administrator and Managing Director of National Electricity Company SNEL, Democratic Republic of Congo.
G2G, G2B and B2B networking sessions were also held as part of the Invest in DRC Forum
Mr. Walid Farghal, Director General of the Annual Investment Meeting stated, “Digitalization is deemed as one of the most powerful instruments in the effective implementation of 2030 Agenda for Sustainable Development while also noting that Africa’s Agenda 2063 is expected to open up income generation opportunities for millions of people in the region.
DR Congo, Mr.Farghal underscored, has one of the world’s fastest-growing economies and with this vast potential; the “Invest in DR Congo Forum” was a powerful impetus in order to strengthen the country’s economic stability, sustainability, and growth.”
The “Invest in DR Congo Forum” afforded participants the opportunity to learn more about the business environment of DR Congo and also,to learn more about investment opportunities within the Democratic Republic of Congo.
It also served as a catalyst to bring in investments and FDI to the country, in order to shape the future of the country positively.
The event brought together ministers, government officials, public and private sector organizations, investors, policy experts & advisors who discussed significant areas of growth and key investment opportunities in DR Congo, such as topics of interest in establishing a conducive business environment, policy and regulatory updates, new laws of the country, new projects and opportunities for investors, training and skills development, and sectors development