Head of State calls III Economic Conference for March 2019

The President of the Republic, H. E. Obiang Nguema Mbasogo, recently sanctioned the decree calling the Third National Economic Conference, to be held in March 2019, in the city of Sipopo, under the banner “Consolidating Social Equality and Social Economic Diversification”.

The decision was adopted in order to reprogram the current Economic and Social Development Plan “Equatorial Guinea Horizonte 2020”, adopted during the II National Economic Conference, held in the city of Bata, in November 2007.

The Horizonte 2020 Plan aims to create a transition from an economy dependent on hydrocarbons to a divergent economy, and promote social cohesion through the reduction in poverty and an improvement in social well-being.

In order to achieve these aims, the plan was structured in two phases. The first, the 2008-2012 Transformation, designed with the aim of setting out the basis for increasing productivity and accelerating economic growth, and the second, the 2013-2020 Emergence phase, set to promote the consolidation of the foundation of sustainable economic and social development.

The decree, dated 18th April, recalls that the first phase of the plan was over, and adds that “taking into account the achievements, the challenges still to overcome to achieve inclusive emergence; the adoption of the Sustainable Development Goals (SDGs), and the inclusion of the Republic of Equatorial Guinea within the Africa 2063 Agenda, and also taking into account the macroeconomic background for the country in the short and medium term, the Government recognises the need to redirect national planning for economic and social development”.

This decree, signed by H. E. Obiang Nguema Mbasogo, intends to guarantee the successful redirection of the plan, establishing a high level forum to present, analyse and debate the challenges facing the country and, as a consequence, the pertinent technical units will work to design and set out the basis for achieving sustainable inclusive economic growth which revolves around the diversification of the sources of growth and social well-being.

The Equatoguinean Head of State sanctioned the decree at the behest of the Ministry for Finance, the Economy and Planning, following deliberations during the Council of Ministers held on 13th April.

The III National Economic Conference will have a General Rapporteur; Committees on the Eradication of Poverty, Social Inclusion and Sustainable Peace; Productivity and Industrialisation; Environmental Sustainability, and a Technical Secretary, whose mission is to guarantee that the work reflect the challenges still to be overcome in order to achieve inclusive emergence, and with the aim of effectively performing the tasks of a technical and administrative nature.

The General Rapporteur is the responsibility of the Minister of State for the Presidency of the Republic, Charged with Missions; the Committee on the Eradication of Poverty will be led by the Prime Minster of the Government, Charged with Administrative Coordination; the Committee on Social Inclusion and Sustainable Peace, will be chaired by the Vice Prime Minster of the Government, Charged with the Political Sector, Democracy, and Minister for the Interior and Local Corporations; the Committee on Productivity and Industrialisation will be led by the Second Vice Prime Minister, Charged with Presidential Legal Affairs and Parliamentary Relations, and the Committee on Environmental Sustainability is headed by the Third Vice Prime Minister, Charged with Human Rights.

The decree, which has eight articles, an additional provision, and a final provision, empowers the Minister for Finance to “take all the steps necessary in order to guarantee the correct organisation and staging of the III National Economic Conference”.

Source: Official Web Page of the Government of the Republic of Equatorial Guinea

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