Guinea Bissau’s President says foreign investment is protected in his country

13 July 2006

Bissau, Guinea Bissau, 13 July – The President of Guinea Bissau called for foreign investment in his country, saying that conditions had been set up for all funds applied in the country, “to be assured total protection.”

João Bernardo “Nino” Vieira made the appeal at the inauguration ceremony of the Palace Hotel, a new accommodation unit in Bissau, the country’s first five star establishment, where preparatory work for the 6th Summit of the Community of Portuguese-speaking Countries has been prepared since Wednesday.

“Investing in Guinea Bissau means protected funds. Our country has created the necessary structures for money applied in generating riches, whether for Guineans or foreigners, to have all necessary protection,” he said.

Vieira was alluding to Guinea Bissau’s membership of the Multilateral Investment guarantee Agency (MIGA), a body that ensures the quality and protection of commercial projects, which the president wants to see developed via partnerships.

The new hotel was the result of adapting what was, before the 1998/99 military conflict, the country’s parliament, which was partially destroyed in the 11 months of conflict. (macauhub)