IDRC 2021 Forum brought together ministers, government officials, public and private sector organizations, investors, policy experts & advisors who discussed significant areas of growth and key investment opportunities in DR Congo, such as topics of interest in establishing a conducive business environment, policy and regulatory updates, new laws of the country, new projects and opportunities for investors, training and skills development, and sectors development.
The Invest in the Democratic Republic of Congo Forum commenced with a welcome note, followed by a keynote address on “The Democratic Republic of Congo’s Strategic Development Plan – A look into progress”, from H.E. Christian Mwando Nsimba Kabulo, Minister of State and Minister of Planning, Democratic Republic of Congo. “The African continent presents innumerable opportunities for investors because of its enormous untapped economic potential. It is also becoming one of the most sought-after investment destinations. In particular, the Democratic Republic of the Congo boasts some of the most abundant natural resources on the planet. With a strong economy, rich farmland and bountiful mineral wealth, the DRC is progressively building towards a brighter future. We’re proud to say that this event has encouraged people to do business in our country, encouraging a sustainable and innovative business culture within the Democratic Republic of Congo”, stated H.E. Christian Mwando Nsimba Kabulo.
Followed by the keynote from H.E. Theo Ngwabidje Kasi, Governor of Sud-Kivu Province, Democratic Republic of Congo, addressed the topic, “Unleashing the True Potential of the DRC”. H.E. Theo Ngwabidje Kasi presented to the audience some of the projects seeking funding in his Province, in the mining, infrastructure, energy, and industrial sectors.
This keynote address was then followed by a short keynote from Mr. Anthony Nkinzo Kamole, Managing Director of the National Investments Promotion Agency (ANAPI), Democratic Republic of Congo, who addressed the topic, “Governing Foreign Direct Investment: Regulatory Incentives”.
Felix Tshisekedi, President of the Democratic Republic of Congo, stated his country is constantly seeking opportunities and investors from across the globe to come in and invest in the country. And ANAPI, the country’s Investment Promotion Agency, facilitate foreign investments by simplifying the investment process, improving transparency, assisting new foreign investors, as well as improving the image of the DRC as an investment destination.
After experiencing its first recession in 18 years in 2020 due to the adverse effects of the Covid-19 pandemic, the DRC’s economic outlook for 2021 and 2022 is favorable if the pandemic is brought under control and as global demand recovers. Real GDP is expected to grow by 3.3 percent in 2021 and 4.5 percent in 2022, thanks in particular to higher prices for the main mining products and recovery in consumption and investment, as well as major projects in agriculture, infrastructure, and ICT sectors. In addition, the continued efforts to rationalize public finances that the Government has initiated should make it possible to reduce inflation to an average of 11.7% over the period 2021-2022.
The event also featured a roundtable discussion on “The DRC Experience” with Congolese entrepreneurs, Yves Kabongo, Managing Director of KGB Capital, and Eric Monga, Managing Director of KIPAY Energy, who came to share their field experience in doing business in the country.
Following the panel discussion, topics such as, “Exchange of economic expertise towards investment readiness & competitive economies”, “Mainstreaming ESG Initiatives”, “DRC Digitalization Perspectives”, “Economic diversification and access to credit information as one of the main achievements in propelling investments in the region”, and “Peojetc Talk- DRC Electricity Sector” were addressed respectively by Omar Khan, Director, International Offices, Dubai Chamber; Balaji Nagabhushan, Group Chief Administrative Officer, Tristar; Dominique Migisha, Special Advisor on Digital to the Head of State, Democratic Republic of Congo; Miguel Azevedo, Head of Investment Banking for the Middle East and Africa, Citigroup; Jean-Bosco Kayombo, Administrator and Managing Director of National Electricity Company SNEL, Democratic Republic of Congo.
The keynote addresses and panel discussions concluded with a lunch break which was followed by G2G, G2B, and B2B networking sessions within the venue.
Mr. Walid Farghal, Director General of the Annual Investment Meeting stated, “Digitalization is deemed as one of the most powerful instruments in the effective implementation of 2030 Agenda for Sustainable Development and Africa’s Agenda 2063 and is expected to open up income generation opportunities for millions of people in the region. DR Congo has one of the world’s fastest-growing economies and with this vast potential, the “Invest in DR Congo Forum” was a powerful impetus in order to strengthen the country’s economic stability, sustainability, and growth.”
Participants attended the “Invest in DR Congo Forum” to learn more about the business environment of DR Congo and to learn more about investment opportunities within the Democratic Republic of Congo. The event brought uplifting speeches from key speakers and inspired attendees by uplifting business stories that are expected to bring change to the country’s economy and growth. The Invest in DR Congo Forum served as a catalyst to bring in investments and FDI to the country, in order to shape the future of the country positively.
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