Guinea Bissau government signs memorandum of cooperation with Chinese businesspeople from Macau and Liaoning

27 January 2011

Bissau, Guinea Bissau, 27 Jan – A group of Chinese businesspeople from Liaoning Wednesday in Bissau signed a memorandum of cooperation with the Guinea Bissau government for investment in projects in the agri-industrial, fishing and energy sectors.

At the ceremony, Carimo Ly, director general of the Guinea Bissau Directorate for Promotion of Private investment, noted that cooperation between Guinea Bissau and China had involved, “substantial aid, illustrated by emblematic public works.”

In his turn, Xina Jin, the coordinator of the Chinese mission, said that the businesspeople would invest in projects related to processing cashew nuts – Guinea Bissau’s main export product – and to rice production, fishing and energy. In the energy sector investment will focus on “construction of small hydroelectric plants.”

Later, the Guinean Economy Ministry said in a statement that the “two sides are focused on mobilisation of the Sino-African Fund, on a sub-regional level, and of the funding pledged by the Chinese authorities as part of the Fund for Development of Trade and Economic Cooperation of Forum Macau,” to carry out the projects.

The visit by the business group from Liaoning and Macau is an initiative of the Guinean prime minister, which was made official during his visit to Macau in mid November for the third Ministerial Meeting of the Forum for Economic Cooperation and Development between China and the Portuguese-speaking Countries (Forum Macau). (macauhub)