The Vice-Minister for Industry and Energy, Cesar Augusto Hinestrosa and the Vice-Minister for Agriculture, Livestock, Forests and the Environment, Santiago Francisco Engonga Esono, gave on 26th April the final presentations that closed the technical preparatory work of the III National Economic Conference.
Cesar Augusto Hinestrosa, as president of the Productivity and Industrialisation Committee, presented the results of the technical meetings from the III Economic Conference, which aimed to cover mainly economic aspects, such as investment, on order to boost industrialisation.
During his presentation, he pointed out that the expected product was a route map aimed at diversifying and increasing economic activity in the country. The hall aimed to focus on the analysis of both the themed documents presented to the conference, and the basic general documents from the committee and the following Sustainable Development Goals SDG9, SDG8 and SDG17.
A total of 137 recommendations were read, including a review of the administrative, legal and institutional public devices regulating the financing of investment and the exploitation of public assets, in order to improve the profitability of these activities and strongly promote economic diversification, the development of a national privatisation programme for the investment and exploitation of public assets, which guarantees the strategic political, economic and social interests of the State, in each of the sectors exploited, through the development and implementation of technical assistance from development partners.
In addition, to seek mechanisms to profit from the infrastructures which the country now has, and those for which construction is or will be planned; to establish financial control mechanisms for public institutions; to implement a single window for tax collection, as a measure to increase tax revenue; and to promote industrialisation from the private sector by persuading and encouraging the private sector to take part in development.
Other recommendations were to establish mechanisms for access to direct grants and subsidies for private companies, instead of using State ownership, to seek sources of Direct Foreign Investment (DFI) to finance economic diversification; to promote education linked to innovation and new technologies, to incentivise entrepreneurship and the creation of SMEs; to establish incentives mechanisms based on performance; and to foster dialogue between companies and the education sector, in order to adapt study plans to business needs, among other recommendations.
The second speaker referred to recommendations from the Block on Environmental Sustainability, presented by the Vice-Minister for Agriculture, who also gave his presentation passing on to the attendees the results obtained from the work of the committee, which had the overall aims of establishing the bases for the reorientation of the National Plan for Economic and Social Development.
He also said that the meetings of the Environmental Sustainability Block had the overall topics of environmental sustainability, the guarantee of production, town planning and responsible consumption in the lives of future generations.
Among the 151 recommendations are the creation and implementation of a Communication Unit for the implementation of the coordination of the National Strategy for Climate Change, the strengthening of the commitment of the Government at the highest level for access and use of climate funds; the adoption and implementation of the REDD+ National Investment Plan and the Green Fund for Climate; the promotion of production plans with a focus on sustainability, for example, the plans for sustainable forest management, agricultural value chains which are climate friendly, plans for fishing based on blue growth, the promotion of campaigns to reduce losses and waster of food, the intensification of campaigns to educate the population in responsible consumption, the provision of consistency in the sectors’ legal frameworks in order to limit conflicts over the use of land and to optimise the assignation of use of land for economic development, the reduction of greenhouse gases, and a reduction in vulnerabilities.
Furthermore, to review the laws on town planning, the environment and forests, together with waters and coasts, to reform the unit for territorial regulation: considering the “regional” scale and guaranteeing inclusive effective participation in the process, design and execution of a national awareness-raising plan for all social layers in the country by updating, approving, applying the existing regulations and creating the specific regulations which are lacking (waste, impact evaluation, climate change, biodiversity, hunting, etc.), among others.
Source: Equatorial Guinea Press and Information Office