São Tomé and Príncipe seeks investment in London

13 October 2015

The government of São Tomé and Príncipe is due this week in London to have meetings with investors and development partners to attract investments for projects in the archipelago, the country’s Prime minister said in São Tomé Monday.

Patrice Trovoada told Portuguese news agency Lusa that the government, during the meetings on Wednesday and Thursday, aims to raise funds for projects that are considered structural, specifically the port and airport, tourism, services and transport.

“We are a country that is heavily dependent on international aid, there is a predetermined envelope, we will evaluate this envelope (with partners), we will try to refocus some projects and ensure the aid will be increased,” said the Prime Minister.

The meeting with representatives of the private sector, on Wednesday, is justified by the head of government with the fact that private investment “creates wealth” and because “public money available for development aid is increasingly difficult (to get).”

The projects that are considered to be structural include extending the runway and modernisation of the international airport and construction of a deep-water port.

Angola, Portugal, the European Union, Taiwan, Sweden, Norway, Equatorial Guinea, United States of America, Azerbaijan, Israel, Iran, Brazil, the Brazil Development Agency, Saudi Arabia and Dubai are among the countries and institutions expected to attend this event. (macauhub/ST)