UNCTAD experts have reviewed the investment policy of the Republic of the Congo and detailed their findings in a report presented and approved at a workshop organized by the Ministry of Economy, Finance, Planning and Integration, in partnership with the United Nations Development Programme and the Food and Agriculture Organization of the United Nations, in Brazzaville on 20 November.

Isadore Mvouba, Minister of State for Industrial Development and Private Sector Promotion, said that the review had correctly identified all the problems. Referring to the need to formulate a plan of action for implementing the recommendations, he stated that “the move from subsistence farming to industrial farming requires a change of mentality” and that, for the move to be successful, “foreign direct investment must be integrated in a manner that takes account of your recommendations”.

With a view to guaranteeing food security in the Congo, the review warns against the risks associated with large concerns and proposes incorporating inclusive agricultural models in national development strategies. Such models favour a gradual development of land which is respectful of local communities and biodiversity, while satisfying the need for increased local production.

The review recognizes the huge investment potential of the Congo and highlights its current dependence on the oil sector and the need for economic diversification. With this in mind, the UNCTAD report recommends specific solutions to the main challenges faced by local and foreign investors, especially during the start-up phase and in accessing factors of production. In this connection, the review underscores the need for clear guidelines in various domains and for institutional capacity-building to improve the transparency and efficiency of the public administration.

Prepared on the request of the Government of the Congo, the investment policy review focuses on two areas: the legal and institutional framework for investment, and the choice of an agricultural development model compatible with the country’s development goals. These issues were also discussed in the course of high-level bilateral meetings between the main sector ministers and the country’s development partners.

The Government of the Congo has undertaken to follow through the review process and to take an active role in implementing the recommendations. The final report will be made public at an intergovernmental presentation during the Spring 2015 session of UNCTAD’s Investment, Enterprise and Development Commission.