Government of Sao Tome and Principe prepares directory to facilitate foreign direct investment

12 January 2015

The government of Sao Tome and Principe will prepare a directory on foreign investment opportunities in Sao Tome and Principe, said Minister of Economy and International Cooperation, Agostinho Fernandes.

The minister also said the document “is used to identify the specific areas of investment,” particularly in tourist areas, agriculture and fisheries.

The government held public consultations to draw up what it calls the “citizen’s budget,” which in addition to focusing on development of the national private sector also plans to attract foreign investment.

“We want to say exactly where foreign investors can allocate their funds and who with not just say that there are opportunities in fisheries, agriculture and tourism,” said Fernandes.

The country already had, since 2008, an investor’s guide developed with the support of Columbia University but “the reality is that since 2008 foreign investment has remained very low in Sao Tome and Principe and consequently we continue with the problem of growing unemployment,” said the Minister of the Economy and International Cooperation.

The minister announced that the government will soon gather its cooperation partners at a meeting in the capital of the archipelago, which it considers to be the ideal opportunity to attract investment from foreign private companies to Sao Tome and Principe.

The foreign direct investment guide for Sao Tome and Principe will be produced in the form of brochures distributed by the country’s embassies and diplomatic offices in various countries as well as being made available on the Internet. (macauhub/ST)