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Guinea and CEMAC

¿What's CEMAC?

The Economic Community of Central African States (ECCAS; French: Communauté Économique des Etats de l'Afrique Centrale (CEEAC); Portuguese: Comunidade Económica dos Estados da África Central, CEEAC) is an Economic Community of the African Union for promotion of regional economic co-operation in Central Africa.

It "aims to achieve collective autonomy, raise the standard of living of its populations and maintain economic stability through harmonious cooperation".

Information Equatorial Guinea

Equatorial Guinea has a population of 1.7 million people, young structure. It is the third largest oil producer in sub-Saharan Africa and third growing economy in Africa. The law of parties was abolished in 1991.

President Teodoro Obiang Nguema Mbasogo came to power on August, 3th 1979. He has founded the Democratic Party of Equatorial Guinea and he's responsible of the great development of Equatorial Guinea. More than 25 years of successful career as manager of PDGE. Standing out the slogan of the government: democracy, development and well-being, for a better Guinea.

In 2007, oil production accounted for 91% of GDP, 91% of government revenues and 99% of exports.

Evolution of Equatorial Guinean population (1994-2010)

The population of Equatorial Guinea is characterized by a young structure, marked by high birth rates and fertility, and decreased mortality.

In addition, has a high immigration in the country caused by the massive return of the natives and the arrival of foreigners.

Investment Freedom

The Government welcomes foreign investment.

Foreign investment is unplanned, and foreign equity participation is not subject to legislation, although they may enjoy certain advantages in the case of having a national majority shareholder. Residents and nonresidents may have foreign exchange accounts, subject to approval.

Capital transactions, payments and transfers to countries like France, Monaco and some partners in the area, are subject to restrictions. Foreign investors are allowed to repatriate their profits.

CEMAC