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CAR President Mentions Investment At World Investment Forum

https://unctad.org/en/pages/newsdetails.aspx?OriginalVersionID=1895

Highlights from article:

October 24th 2018

But stable regulatory and fiscal regimes are a precondition of attracting such investment, said leaders from Armenia, Botswana, Central African Republic and Lesotho

Open for business

Armen Sarkissian, President of the Republic of Armenia, said that his country had the most-advanced information technology sector in the countries of the former Soviet Union. It deserved to be “rediscovered” as a “core component” of the trade routes of the Silk Road, and had recently changed governments in a popular but peaceful revolution, he said. The country was a small but vital bridge between Eurasia and Europe and benefitted from its immense diaspora spread around the globe.

Mokgweetsi E.K. Masisi, President of the Republic of Botswana, said the new industrial agenda presented challenges to developing countries such as his. Governments needed to attract investment into digital infrastructure by updating their policy and regulatory regimes, he said. The so-called “demographic dividend” of an increase in the number of young Africans was an opportunity to seize concerning the new industrial agenda, he said.

With the proactive involvement of multilateral institutions, President Masisi said, “the attainment of the Sustainable Development Goals is not as far-fetched as we might imagine”.

Faustin-Archange Touadéra, President of the Central African Republic, said the new industrial agenda was a technological agenda and one that was central to achieving the Sustainable Development Goals. Speaking on behalf of his country, he said that half of the citizens of the Central African Republic needed not just development aid but humanitarian aid, following a period of crisis.

However, the Central African Republic was ripe for investment, particularly in agriculture and fisheries, thanks to a favourable climate and geography. Investors could help, for example, with the development of the Oubangui river to help build better connections to neighbouring economies, President Touadéra said.

Motsoahae Thomas Thabane, Prime Minister of the Kingdom of Lesotho, said his country was “open for business” and enhancing its institutional and regulatory frameworks to make it easy to invest there.

“As a landlocked country, investment is not an option but a must for sustainable economic growth,” he said.