The National Commission of Investments granted on February 26 in Brazzaville, the titles of approval to thirteen private companies during its first annual session. For this first session of 2021, the committee examined a total of thirteen application files, ten of which are new and only one under review. At the end of the work, it granted final approvals to eight companies and five others with reservations, pending completion of a few missing documents.
These companies want to invest in growth sectors such as agro-industry, industry, transport, agriculture, telecommunications, buildings and public works and in the field of services.
They represent, according to the commission, a total investment of 747 billion FCFA and could generate more than 6,066 direct jobs.
For the president of the National Investment Commission, Jean Raymond Dirat, this is an opportunity to be seized, at a time when the country is suffering a deep economic crisis. He pledged to follow more closely the successful outcome of these investments, which form part of the framework for the diversification of the national economy.
“Through this approach, the government encourages investors. We are ready to follow suit because we want these investments to be made, ”said Jean Raymond Dirat.
During the last session held last December, the commission examined eleven applications. Ten of them had been approved for an investment cost of 120 billion 477 million FCFA.
Having acquired their licenses, these companies should benefit from special reliefs and advantages from the Congolese State in accordance with the investment charter. The related privileges relate, among other things, to the reduction of customs duties, the tax on profits and many other tax favors.
In return, companies must first recruit Congolese staff, then register with social security. According to the investment charter, they must transform the raw material on Congolese soil in order to support the economy.
It should be noted that the National Investment Commission is an executive body for government policy on investment promotion. It has around twenty permanent members, from various public and private administrations, as well as from a few institutions. Its main task is to examine requests for approval requested by companies.