Equatorial Guinea

Equatorial Guinea is one of the smallest countries, which is in Central Africa. County includes many islands like Bioko, Malabo (capital of Equatorial Guinea) and Annobon. In recent years, discovery of oil reserves changes the whole face of economy and politics of the country. The official language of Equatorial Guinea is Spanish and French. Country has only one university, named Universidad Nacional de Guinea Ecuatorial (UNGE), which gives education in business, arts, science, commerce and other streams.

Before independence, country earned hard currency from only cocoa production. But, in 1996, a discovery of oil reservoirs increases government revenue dramatically. Today, Equatorial Guinea is third largest country for oil production in Sub-Saharan African. Apart from the oil reservoirs, farming, forestry and fishing are the other major sectors which contribute GDP. Business in the country includes banking, investments in government as well in private sectors, farming, technology, industries, NGOs, chambers of trades and commerce. Government plays an important and active role to promote business in the country and helping to enhance the standards of living, especially for poor sections. Every year government of Equatorial Guinea offers several laws, regulations and amendments in existing laws in order to bring more opportunities for business. As a result of these efforts many new large and small scale industries are developing the country and many industries, outside Equatorial Guinea, are interested to collaborate. There are many challenges for staring new business in Equatorial Guinea like minimum capital, most effective procedure, percentage of gross national income (GNI) and location.

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