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Congo validates National Investment Programme

The validation of the document with amendments took place on July 29 in Brazzaville during the workshop on the development of the 2019-2022 private investment program (PIV).

Initiated by the Congolese government and the World Bank, through the Business Development and Competitiveness Support Project (Padec), the said report drawn up in ten months by eight national and international consultants will help to support the diversification of the Congolese economy.

The conduct of this work was part of the implementation of the National Development Plan (PND 2018-2022). Its objective was to present the document to economic players, in order to collect their opinions, remarks and suggestions with a view to its validation.

Opening the proceedings, the chief of staff of the Minister of Planning, Statistics and Regional Integration, Ferdinand Sosthène Likouala, recalled that the PND 2018-2022 is built around three strategic axes. Regarding the third axis, it aims to accelerate the diversification of the economy through agriculture, tourism and industry, in order to reduce Congo’s dependence on oil. This places the private sector at the heart of the PND.

“The translation into reality of the diversification of the economy supposes the mobilization of all the energies of the private sector in all fields and at all levels to ensure the effective achievement of the objectives set by the PND”, he added.

Indeed, the private sector is the engine of Congolese economic growth. It contributes most of the national GDP, as well as the non-oil GDP.

In 2018, its contribution to GDP was 96% compared to 4% for public administration. Its importance and in particular for the gross formation of fixed capital installed in the country is central for the conduct of a strategy of diversification of the economy for a stable macroeconomic framework, solid, sustainable and inclusive growth.

To do this, it is, therefore, necessary for the government to equip itself with an instrument to help it better understand the investment intentions of private operators, in order to better coordinate the interventions of the different economic actors to produce results to match the stated ambitions.

“It is a question of structuring a framework of dialogue and regular work allowing the State to bring the private sector to participate effectively in the execution of the PND”, Ferdinand Sosthène Likouala explained. Continuing that the validated report will be presented to the government for its implementation.

Note that the main objective of the Padec is to strengthen the competitiveness of small and medium-sized enterprises within the selected sectors (agro-industry, tourism, transport/logistics and information and communication technology), in the targeted geographic areas.