Equatorial Guinea agrees raft of Chinese investment

Equatorial Guinea agrees raft of Chinese investment Six MoUs were signed in total, including deals for the development of industrial cities at Luba and Mbini. (Image source: jbdodane/Flickr)Equatorial Guinea has secured a wave of Chinese investment, following a trade forum in Dalian

The Equatorial Guinea-Asia Economic Forum was hosted in the Northeastern Chinese city by representatives of the West African nation’s Ministry of Mines, Industry and Energy, with the aim of showcasing the country’s investment opportunities.

The Equatorial Guinean government has since announced the signing a series of memoranda of understanding (MoUs) with Chinese firms covering in the industrial and power sectors.

The MoUs agreed included a deal with CDIG to execute a study for the development of Mbini Industrial City; an agreement with the China State Construction Engineering Corporation for the planning and development of the Petroleum Industrial City of Luba; and a deal with Sinohydro Corporation to carry out a feasibility study for a new hydroelectric plant on the Wele river.

H. E. Teodoro Obiang Nguema Mbasogo, President of Equatorial Guinea, said, “We are aware that maximum security is needed to ensure investment. In this regard, we can confirm 45 years of experience in the cooperation between China and Equatorial Guinea; cooperation which in many ways has been possible thanks to the peace and stability that prevails in the country.”

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