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AfricaMoney | August 21, 2017

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Congo seeks Mauritian investment boost for agro-industry and mining sectors

Congo seeks Mauritian investment boost for agro-industry and mining sectors

Discussions between Mauritius’ Prime Minister Navin Ramgoolam and the President of the Republic of Congo, Denis Sassou Nguesso focused on economic cooperation between the two countries. (Image: Frontier Market Network)

The Central African economy of Congo is turning to Mauritius to participate in the development of its agro-industry sector and also invest in mining projects, reinforcing the status of the island economy as an upcoming regional hub for mining deals.

Mauritius’ Prime Minister Navin Ramgoolam met the President of the Republic of Congo, Denis Sassou Nguesso, yesterday, on the sidelines of the US-Africa Leaders’ Summit being held in Washington DC from 4-6 August 2014.

Discussions between the two leaders focused on economic cooperation between Mauritius and Congo.

On his part, Prime Minister Ramgoolam spoke of the enormous untapped potential of marine resources and the vast possibilities posed by Mauritian investments in the special economic zone of Congo.

The Board of Investment (BOI), the premier investment promotion agency of Mauritius, will be called upon to actively promote the investment possibilities inherent in Congo.

Both leaders also expressed their mutual satisfaction with the Mauritius-Singapore-Congo axis, which, according to them, represents enormous economic potential.

Mauritius and Congo have already finalised terms of a Double-Taxation Avoidance Agreement (DTAA) between the two countries.

All that remains now for the DTAA to come into effect is for the Republic of Congo to introduce the necessary legislations to conclude the tax treaty.

The Congolese President has solicited the assistance of Mauritius in the field of vocational training of its youth as the Central African economy is impressed by the progress achieved by Mauritius in this sector.

The President stated that a delegation from his country will visit Mauritius soon to explore the possibilities of cooperation in the field of technical training.

The two leaders also held discussions over the US-Africa Leaders’ Summit and underlined the necessity for Africa to speak with one voice.

Besides, the two also spoke about the issue of Francophonie and PM Ramgoolam briefed the Congolese President on the candidacy of Jean-Claude de L’Estrac for the post of Secretary-General of the International Organisation of La Francophonie.

They agreed on the importance of Africa displaying a united front and presenting only one candidate for this post.

The Congolese President, who visited Mauritius in 2011, reiterated his invitation to Prime Minister Ramgoolam for an official visit to Congo.

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