Congo and Mauritius Board of Investment on Tuesday signed a contract in Brazzaville for the establishment of an Investment Promotion Agency (IPA) in Congo, the Congo ministry of Industrial Development and Private Sector Promotion has said.
The agreement was signed by the Congolese minister of Industrial Development and Private Sector Promotion, Isidore Mvouba and Board of Investment’s chairman, Maurice Lam.
The agency’s mission will be to encourage national and foreign investments in Congo.
“We are going to gather a lot of deposits from Congolese businessmen and pave the way for foreign investments to blossom in Congo,” Mr Lam declared.
The Investment Promotion Agency will, according to Board of Investment’s chairman, boost Congo’s economic development through engaging all the private sector economic actors with government bodies tasked with promoting the country’s economic boom in a move to make them work hand-in-hand.
The activities targeted by IPA include manufacturing, food processing, wood processing, clothing and hotels.