Government of São Tomé and Príncipe plans to attract investment to develop the country

The São Tomé and Príncipe government intends to raise investment for the country during a business meeting that starts on Monday, with the participation of at least 150 potential investors, said the director of the Promotion, Trade and Investment Agency (APCI).

Rafael Branco, speaking to the Lusa news agency, said the meeting, which ends on Tuesday, is “an opportunity” to “attract foreign private investment,” although he acknowledged that “the business environment and the predominant culture in public administration do not facilitate investments being made,” in the country.

The APCI director said it is important “to raise the awareness of the main agents of the São Tomé and Príncipe administration about the importance of foreign investment in the country’s particular conditions at the moment.”

In addition to the 150 foreign representatives, at least 170 São Tomé businesspeople are expected to attend the 14th Meeting of Entrepreneurs for Economic and Trade Cooperation between China and Portuguese-speaking Countries, according to the official.

Branco said that the vast majority of foreign participants come from China, but there will also be Portuguese, Angolan, Mozambican and Timorese entrepreneurs attending.

The meeting will be opened by Prime Minister Jorge Bom Jesus, after a speech by the Deputy Secretary-General of the Permanent Secretariat of Forum Macau, Ting Tian, and the vice-president of the Macau Trade and Investment Promotion Institute (IPIM).

Entrepreneurs are expected to present about 60 projects at the meeting, of which about half are related to the tourism sector, and the rest focused on agriculture, infrastructure and product manufacture, trade and services.

The 14th edition of the meeting is organised by the São Tomé and Príncipe Trade and Investment Promotion Agency, the China Council for the Promotion of International Trade and the Macau Trade and Investment Promotion Institute. (Macauhub)