Guinea-Bissau raises Chinese investment in Macau

28 May 2015

Guinea-Bissau wants to attract investment from China to its food industry, particularly cashew processing, said Wednesday in Macau the Guinean delegate at Forum Macau.

Malam Camara, on the sidelines of a meeting on trade in agro-food products from Guinea-Bissau, organised by the Macau Trade and Investment Institute (IPIM) told Portuguese news agency Lusa, attracting investments to this agricultural business segment was a priority as it is Guinea-Bissau’s main export.

The Guinea-Bissau delegate at the Permanent Secretariat of Forum Macau also said there had already been “some expressions of interest” from Chinese businesspeople and added that despite no actual projects being implemented there was potential because “China is one of the biggest cashew consumers” and has “technology to process” the product.

Camara also mentioned that the development of port infrastructure in Guinea-Bissau may be of interest to Chinese investors, having told the meeting about some projects in this area, including works on a deep-water port at Buba in the south of the country.

During the meeting, local businessman John Lo Seng Chung, CEO of Excellent International Group Ltd, called on counterparts to invest in Guinea-Bissau, given that “although there is little infrastructure there are many business opportunities.”

John Lo Seng Chung, who is also the honorary consul of Guinea-Bissau in Macau, said the country he represents locally has many natural resources ranging from fruit to cashews, through to fish, timber and several minerals.

The businessman acknowledged that Guinea-Bissau lacks the technological capacity to process products for export, especially food, and suggested that companies from Chinese provinces such as Guangdong, Hunan and Shandong provide support to the West African country in terms of knowledge and agricultural machinery. (macauhub/CN/GW/MO)