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Congo-Brazzaville: Creation of an Investment Promotion Agency

Emery Mukendi Wafwana & Associates > Blog Cabemery  > Publications  > Articles  > Business Law  > Congo-Brazzaville: Creation of an Investment Promotion Agency

Congo-Brazzaville: Creation of an Investment Promotion Agency

SancyLenobleMatschingaAntoine Luntadila KibangaAntoine Luntadila and Sancy Lenoble Matschinga 

On August 22, 2012, the President of the Republic of Congo-Brazzaville enacted Law No. 19-2012 on the creation of the Investment Promotion Agency[1]. Under this law, the Investment Promotion Agency is an administrative public institution, with legal status and financial   autonomy[2]. The Agency is based in Brazzaville, the capital city of the Republic of Congo, and is under the authority of the Minister of Promotion of the Private Sector.

By Decree No. 2013-132 of April 17, 2013 on the approval of the articles of association of the Investment Promotion Agency[3]  the Congolese Government gave effect to the creation of such structure. The purpose of this Agency is to implement the Government policy regarding investments through promotion and facilitation of private investment transactions, to improve the business climate and to promote public perception aimed at attracting prospective investors in the Republic of Congo.

Specifically, the purpose of the Agency is « to receive, to inform, to assist and to accompany prospective investors in the their projects implementation; to carry out studies on investment opportunities and manage investment projects; to make reliable information available to investors about investment opportunities and other economic, commercial and technical information; to create and develop a web of small and medium enterprises; to assist in the development of partnerships between Congolese and foreign companies; to organize economic, commercial events and to participate in events organized by other bodies; to build capacities of enterprises, particularly in the organization of seminars, training and continuing education courses »[4].

The Investment Promotion Agency is administered and managed by an Executive Committee and a General Directorate, respectively run by a Chairperson of the Executive Committee and a General Manager appointed through Decrees adopted by the Council of Ministers, on the proposal of the Minister of Promotion of the Private Sector. Other members of the Executive Committee are appointed by a Decree from the Minister of the Promotion of the Private Sector, on the proposal of administrations and bodies they represent.

The General Directorate of Investment Promotion Agency is responsible for executing, among others, decisions or proceedings of the Executive Committee, for the budget of Agency, for implementing texts governing the organization and operation of the Agency, negotiating contract, lease, agreements and contracts in the name of the Agency, preparing and submitting to the Executive Committee plans, business agenda and financing plans of the Agency, preparing and organizing the Executive Committee’s meetings, and representing the Agency in any acts of  civilian life. The Agency consists of an Executive Secretariat, internal audit department, a computer department, research and development department, a promotion and communication department, assistance and monitoring department, administrative and finances department and branches.

With regard to branches, the aforesaid Decree recognizes the desire to maintain a local administrative body. Liaison offices representing the Directorate-General in Ministries and abroad run and managed by branch heads having the rank of managers, these branches actually shall provide multiform assistance to investors and other operators in Ministries and abroad.

Branches established abroad will undoubtedly enable the Agency to acquire an optimal knowledge of investment needs in order to provide appropriate services and to better promote business opportunities in the country. To that end, consultants’ skills and different bilateral or multilateral partnerships should be required by the Agency pursuant to article 47 of the aforesaid Decree.

Finally, the Agency shall operate with the resources from State grants, foreign assistance funds, assets proceedings, donations and legacy and various earnings. The supervisory authority, the State and Audit and Budgetary Discipline Office shall oversee its activities.

The Investment Promotion Agency constitutes a significant tool for investments promotion in Congo-Brazzaville. Its implementation should attract many more investors in this country.

[1] Such law was published in the Official Gazette No 35 of August 30, 2012.

[2] Article 1 of Law No. 19-2012.

[3] Such Decree was published in the Official Gazette No 17 of April 25, 2013.

[4] Article 3 of Law No. 19-2012.

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