Gabon ready for foreign direct investmen

The Gabonese government has pledged its commitment to driving and assisting foreign direct investors to help diversify its oil-dependent economy in sectors such as agriculture, tourism, fishing and housing, the country’s minister of economy told CNBC Africa.

“In Gabon we have some objective in developing our country and we need investors from many countries to come to Gabon to invest and to help us develop our country and to help us have high growth rate,” Luc Oyoubi said.

Luc Oyoubi on Wednesday said economic diversification is now vital to the countries’ long-term economic growth.

“We think that our programme is going to improve our economy and non-oil economy for the coming years, we want to improve not only our oil economy,” he added.

The minister of economy on Wednesday hosted a press conference in Gabon to address several topical issues such as the country’s business environment and the subsidy on refined products.

Meanwhile, Gabon’s GDP is set to grow by 7.3 per cent in 2013, mainly driven by non-oil sector. Oil production, Gabon’s main economic engine, has declined by a third since 1997. The government is also under fire from opposition activists who claim the 2009 elections were rigged by President Ali Bongo, son of the late leader Omar Bongo.

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