Gabon, which is located on Africa's west coast, is quickly becoming a popular investment location for industries such as wood, health, mining, infrastructure projects, fisheries and tourism.

 

'Gabon is desperate to recruit more Indian firms. In an interview with PTI, Madiya, who is the Minister for the Promotion of Investments, Public-Private Partnerships, and Improving the Business Environment, said, "We also want to develop our tourism sector and encourage more Indians to visit our country, and in turn, we want Gabonese to visit India and further enhance the bond between the two countries."

 

'Our goal is to have new projects and new investors as rapidly as possible because we want to re-launch our economy after the crisis,' Madiya added, referring to the Covid-19 epidemic that has wrecked havoc on the world economy over the previous two years.

 

Gabon appears to be inspired by India's 'Make in India' effort and aims to open unique showrooms showcasing 'Make in Gabon' items in India, the United Arab Emirates, and the United States.

 

According to Madiya, India is Gabon's third-largest trading partner, with a trading volume of USD 52.77 billion in 2016 and USD 111 billion in 2019.

 

Since the formation of the Special Economic Zone in 2019, commerce between the two nations has expanded.

 

'Investments from India are increasing in this country.' There are many Indian or Indian-owned businesses these days. We're also attempting to improve and advertise our country on the worldwide market, as tropical rainforest covers and protects 88% of our territory,' he explained.

 

Gabon has been able to attract Indian investors in recent years, according to the minister, since the country is eager to accept Indians who are recognised for their talents, technology, and leading industrial growth.

 

'We have chosen to pursue a bilateral trade and investment agreement with India.' 'Both Gabon and India are making an effort to get this treaty signed by the end of this year,' Madiya added.

 

A Memorandum of Understanding was signed by the Gabonese National Investment Promotion Agency and Invest India to boost trade, investments, and economic relations.

 

Gabon, according to Madiya, is a resource-rich country, making it a desirable investment location, particularly in high-priority areas like timber, agriculture, transformation, and energy.

 

When asked about business incentives, the minister said the Nkok Special Economic Zone allows investors to create firms in a variety of industries and provides tax exemption for three years in specific industries.

 

According to him, the Nkok SEZ is home to more than 40 Indian companies, most of which are in the wood industry.