Equatorial Guinea has decided to support its business culture by cutting a number of well-known bureaucratic obstacles. The government has launched a ‘one stop shop’ that speeds up the pace of starting a business in the country.
Equatorial Guinea is sub-Saharan Africa’s fourth largest oil producer. International investors have aired their concerns over the country’s bureaucracy and regulations, which have prevented it from exploiting its full investment potential over the past few years. The new one-stop shop is one of the answers to the criticism. The solution allows investors and corporations alike to set up a business in in only seven days. Businesses will be able to deal with all permits and processes required to set up a business at one single counter.
BizTechAfrica reports that Equatorial Guinea has stepped up its efforts to reach out to the international community and boost its attractiveness to investors in recent years. The country joined the Organization of Petroleum Exporting Countries (OPEC) and hosts important conventions in 2019, such as the APPO Cape VII Congress & Exhibition between April 1-5, and the 5thSummit of the Gas Exporting Countries Forum in November.
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