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    March 03, 2012

Gabon Implement Policies to Woo Investors

   Peter Clottey
   A worker showing a soap product manufactured by SIAT Gabon Photo: SIAT
   Gabon

   Gert Vandersmissen, a top official of a tropical agricultural
   investment company, [1]SIAT, said the business-friendly climate of
   policies of Gabon's government is one of the many incentives that
   attracted his group to commit funds to the Central African country.

   The administration of President Ali Ben Bongo Ondimba recently
   established an agency to guarantee a 'single window clearance' policy,
   specifically for investors. Analysts say the move expedites the
   necessary documents they need to start their businesses.

   They cite the sharp increase in direct foreign funding as a symbol of
   the country's dynamic economy and the government's continuing
   partnerships with private entities. Experts say since 2010, foreign
   direct investment to Gabon has exceeded of four billion dollars.

   SIAT, an acronym in French for Investment Organization for Tropical
   Agriculture, manages plantations in Gabon with nearly 2,000 hectares of
   rubber and palm oil.

   Vandersmissen said investors need the encouraging business climate that
   Gabon has created, which he said allows their business to flourish.

   'As a private company, we need good infrastructure and a solid judicial
   system, without corruption, so that we can do what we do best. So, far
   the government is not pushing us and is not working against us so that
   we can do our job and that is how it should be,' said Vandersmissen.
   'It's stable here and there is liberty, and if this should continue,
   Gabon could become an economic center for the development of Central
   and Western Africa.'

   Also attracted to Gabon's pro-business policies is Tauhid Monif,
   general manager of another investment company, the Abhijeet group.

   'The business opportunities that are offered by Gabon are an excellent
   opportunity. And avenues have opened up [including an offer to set] up
   one of the biggest plants over here,' said Monif.

   Headquartered in India, Monif said, the Abhijeet group, which
   specializes in power generation, mining, ferroalloys, steel and roads
   will use Gabon as its base to launch into the rest of Africa.

   The investors said they also appreciated the country's political
   stability.

   Vandersmissen said the smooth transfer of power after the election of
   President Ali Ben Bongo Ondimba, following the death of long-time
   leader Omar Bongo, removed uncertainties, which he said inhibit
   investments.

   'Since we have been here, there is only one dull moment that is when
   the former president died, but they did very well to maintain stability
   in the country to ensure the continuation of the presidency,' said
   Vandersmissen. 'We see now that there is a clear view of the future
   with Gabon and the emerging Gabon, we are very happy to invest in
   Gabon.

   He said SIAT has so far invested about $106,999,978 in some rural areas
   of Gabon.

References

   1. http://www.siatgabon.com/index.cfm/page:entreprise

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