REPUBLIC OF CONGO
Equatorial is proud to work in the Republic of Congo (“ROC”), also known as Congo Brazzaville. This peaceful and investment friendly country is a former French colony in Central Africa and one of Africa’s largest oil producers.
Congo Brazzaville recently celebrated 50 years of independence from France and has a stable, single party government led by President Dennis Sassou-Nguesso, re-elected in 2009 for a further 7 year term.
The ROC’s economy is largely dominated by the oil sector which has driven the country’s healthy economic growth in recent years. Congo Brazzaville actively encourages foreign investment and in 2005 adopted a new mining code with favourable terms which include royalties of ~3% and local ownership of 10% at grant of a full mining licence.
The ROC’s efforts to reform the economy have been supported by international organisations such as the World Bank and the International Monetary Fund, which approved Heavily Indebted Poor Countries (HIPC) treatment for the ROC in March 2006. The ROC is a member of the UN, WTO, African Development Bank, African Union, BEAC and the Organisation for the Harmonization of Business Law in Africa (OHADA).
Congo Brazzaville recently celebrated 50 years of independence from France and has a stable, single party government led by President Dennis Sassou-Nguesso, re-elected in 2009 for a further 7 year term.
The ROC’s economy is largely dominated by the oil sector which has driven the country’s healthy economic growth in recent years. Congo Brazzaville actively encourages foreign investment and in 2005 adopted a new mining code with favourable terms which include royalties of ~3% and local ownership of 10% at grant of a full mining licence.
The ROC’s efforts to reform the economy have been supported by international organisations such as the World Bank and the International Monetary Fund, which approved Heavily Indebted Poor Countries (HIPC) treatment for the ROC in March 2006. The ROC is a member of the UN, WTO, African Development Bank, African Union, BEAC and the Organisation for the Harmonization of Business Law in Africa (OHADA).
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FAST FACTS REPUBLIC OF CONGO
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