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1,383,000 INHABITANTS
PER CAPITA GDP OF: 2,503,400 CFAFr (3,816 €)
STRATEGIC INFRASTRUCTURES
HEALTH, A NATIONAL PRIORITY
83% OF CHILDREN IN FULL-TIME EDUCATION
85% FOREST COVERAGE
AN IDEAL BREEDING GROUND FOR BUSINESS
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| AN IDEAL BREEDING GROUND FOR BUSINESS |
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Encouraging foreign investments
From the outset, Gabon set up a legal and tax framework offering the ideal conditions for foreign investments in order to ensure the development of its natural resources.
The country's economic prosperity, its privileged geographical location, its guaranteed political and social stability and the support infrastructures proposed have already encouraged several foreign investors from all sectors to set up operations in Gabon.
Two initiatives illustrate Gabon's will to give a new boost to the promotion of foreign investments:
- The creation at the beginning of 2002 of the Agency for the Promotion of Private Investments (APIP), whose mission is to inform and advise investors and to simplify the administrative procedures when setting up new businesses.
- The creation in 2005 of a free zone in Mandji (Port-Gentil); it will offer attractive tax incentives, such as tax exemption for 10 years or tax credits relating to investments and employment. Secondary timber conversion and the shipbuilding and para-petroleum industries are the project's key targets.
Increasing investment volumes
The volumes of direct foreign investments (DFI) are still modest compared to the DFI flows worldwide. Even so, in 2001 Gabon managed to attract 1.2% of the flows intended for Africa alone, an investment representing nearly 4% of the GDP.
The oil sector is by far the leading sector benefiting from DFIs. The money ploughed into developing the known oilfields in 2002 outweighed the expenditure in ultra-deep offshore exploration.
Gabon's sheer determination to develop new economic sectors opens the door to a wealth of opportunities for investors in tourism, mining, the timber industry, civil engineering and telecommunications.
Encouraging new partnerships
With 1,241 million euros of direct investments, France was Gabon's leading foreign investor at the end of 2000. France's presence can be clearly felt in all sectors of the economy: oil, forestry, manganese extraction, civil engineering and construction, food processing, services and distribution.
There is a noticeable rise in third country investments, primarily in the developing economic sectors. In addition to the government's policies, the attitude towards foreign investors really is a "cultural phenomenon": any foreigner investors assumed to be contributing to the country's economy will generally be given a positive welcome by the local government representatives with whom they will be dealing.
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