Conakry — From November 24th to 25th 2013, the Guinea Development Partners and Investor Conference will be held in Abu-Dhabi, United Arab Emirates. The objective of this unprecedented event will be to consolidate Guinea's achievements in the areas of good governance and stability, and resolutely engage the country's socio-economic transformation. The Conference will be attended by no less than 400 guests from around the world, including officials from bilateral donors, multilateral institutions and development banks, non-governmental organizations, sovereign wealth funds, and institutional and industrial investors. It will be a unique platform for Guinea to present its development vision as well as concrete opportunities for partnerships and investments in order to realize its exceptional potential for social and economic development.
Today, Guinea is consolidating its democratization process and openness to the world. Partners and international institutions are welcoming and responding favorably to the country's transformation. The conduct of recent parliamentary elections in September 2013 reflects this collective journey towards a new political course. Furthermore, Guinea has embarked on major reforms in the areas of justice, administration, and security, and has put in place development planning tools, some of which have begun to show results, considering the recent growth of economic, social, and financial indicators.
Guinea's GDP growth reached 3.9% between 2011 and 2012, tax revenue increased from 14.9% of GDP in 2009 to 19.2% in 2012. The budget deficit shrunk, inflation declined remarkably in the past two years, the exchange rate of the Guinean Franc stabilized during the 2011-2013 period, foreign assets increased markedly, the budget balance improved, public investment increased, and individuals' access to basic social services improved significantly.
However, major socio-economic challenges still lie ahead for Guinea. For instance, the overall poverty rate is 55.2%, and unemployment affects 34% of graduates of technical and vocational education and 47.9% of university graduates. These challenges contrast starkly with the country's potential and its wealth of natural resources.
Aware of these issues and challenges, and with the support of technical and financial partners, the Government of Guinea aims to rely on the value of its potential to mobilize capital capable of generating sustainable economic and social benefits through mutually beneficial partnerships with investors. The Government of Guinea has therefore taken strong action to improve the business environment, such as creating the Private Investment Promotion Agency (APIP), defining a strategy to improve and strengthen governance and security, adopting new laws, and fighting against corruption.
Hosted by the United Arab Emirates, the Guinea Development Partners and Investor Conference will be held under the patronage of His Excellency the President of the Republic of Guinea, Professor Alpha Condé. The various sessions will focus on presenting a new vision and development strategies for Guinea. The Conference aims to provide a suitable framework for the development and formalization of partnerships with the presence of the highest political authorities of Guinea and its partners with a unique opportunity for private investors.
The Abu-Dhabi Conference marks the beginning of a new era for Guinea.
"Guinea is back and ready for business!"
Guinea's Development Partners and Investor Conference - General Narrative
