Business & Trade
CONGO STATISTIQUE TRADE (PDF)
The Hungarian Investment Promotion Agency (HIPA) was set up under a government decree to provide professional assistance to foreign companies wishing to invest in Hungary. Its mission is to support the implementation of the Government’s main investment promotion objectives and to promote bilateral and multilateral international economic relations. For more information, visit www.hipa.hu
Main reasons for investing in Hungary
One of the competitive advantages of Hungary compared to other countries in the region is the firm commitment of the government to streamline business processes and increase the competitiveness of SMEs and large enterprises in Hungary through a wide range of Available incentives.
Incentives that are both repayable and non-refundable are available to investors in Hungary that are either expanding or expanding. The main types of investment incentives are cash grants (from the Hungarian government or EU funds), tax incentives, low interest loans or land available free or at reduced prices. The rules on incentives are in line with EU rules.
Hungary is located in the heart of Europe, making the country optimal for manufacturing, services and logistics. As a member of the European Union, Hungary offers access to a market of 250 million people within a 1000 km radius, while the EU common market offers more than 500 million people. Hungary is the ideal base for investors planning cross-border trade developments.
Besides the favorable business climate and the availability of various incentives, Hungary is an ideal place to do business for a number of other reasons:
- Ideal geographical position in the center of Europe
- Excellent infrastructure, ready-to-use industrial sites, offices and science parks
- Good balance between labor costs and quality
- Government Incentives (Cash Grant, Tax Relief)
- Economic policy favorable to investment
- Competitive tax system
High quality pool of labor
Foreign capital is largely attracted to the highly skilled workforce, especially in the engineering, IT, pharmaceuticals, economics, mathematics, physics and professional services sectors . About two thirds of the Hungarian workforce have completed secondary, technical or vocational education.
Average wages in Hungary are about 60% lower than the EU-27 average, which makes the Hungarian workforce very competitive. Fluency in English (90% of students speak English) and the high number of working hours per year make the Hungarians a highly efficient workforce.
TIME ZONE: GMT + 1 hour
POPULATION: 9 849 000 (from January 2015)
NATIONAL CURRENCY: Forint (HUF)
GDP (PPP): EUR 174 328 billion (2013)
INFLATION: -0.2% (2014)
UNEMPLOYMENT RATE: 7.7% (2014 Q4)
MEMBERS IN INTERNATIONAL ORGANIZATIONS: EU, UN, OECD, WTO, NATO, IMF, EC
For more information, please consult the Hungarian Investment Promotion Agency (HIPA) at www.hipa.hu.
INVESTING IN RD CONGO
GENERAL INFORMATION ON CONGO R & D
The Democratic Republic of the Congo is a huge country in the heart of Africa, straddling the equator. With an area of 2,345,410 square kilometers, DR Congo shares 9,165 km of borders with neighboring countries: Angola, Burundi, Central African Republic, Republic of Congo, Rwanda, southern Sudan, Tanzania, Uganda and Zambia.
6 REASONS TO INVEST IN RD CONGO
- The DRC, a land with multiple potentialities and investment opportunities;
- Basic infrastructure in full rehabilitation and modernization throughout the country;
- A thriving and promising economy;
- Abundant, skilled and cheap labor;
- An increasingly attractive and competitive business environment;
- A vast market in the heart of Africa.
BUSINESS AND INVESTMENT CLIMATE CHARACTERISTICS IN RD CONGO
- Prohibition of nationalization and expropriation;
- Freedom to transfer generated revenues;
- Establishment of a one-stop shop for business creation (creation time: 3 days);
- Establishment of special economic zones;
- Liberalization of the insurance, electricity and water sectors;
- Establishment of commercial courts and labor tribunals;
- Establishment of mechanisms for securing investments;
- Simplification of domestic parafiscality;
- Adoption of several bilateral conventions on reciprocal protection
- Promotion of investment between countries friendly to DR Congo;
- Other reforms are being adopted within the government.
The DRC continues to show strong growth rates in the short and medium term, thanks in particular to the renewed dynamism of mining activities and the prospects for developing agricultural activity. Its annual growth which was estimated at 7.83% on average between 2010 and 2015, with a peak of 9.5% in 2014, rose in 2015 to 7.7%.
BANKS AND INSURANCE
To date, the Congolese financial system is composed of: 18 commercial banks, 1 savings bank, 3 specialized financial institutions, 3 electronic money institutions, 2 savings and credit cooperatives, 23 microfinance institutions, 55 Financial messaging and 15 exchange offices.
The banking rate and the key rate of the central bank are respectively 3% and 2%. The market remains open for new investors who express interest.
As regards insurance, the monopoly that has characterized this sector for several years has been put to an end by the liberalization of the sector, thus giving way to competition. This substantial reform ensures further investment in the DRC against possible disasters and improves risk management.
The electricity sector in the DRC is regulated by Law No. 14/011 of 17 June 2014. This legal framework establishes liberalism in this vital sector of the economy, favoring the entry of the private sector in order to increase The rate of national electrification estimated today at 9.6%.
The country has enormous assets for the development of the energy sector: (I) a hydroelectric potential of 100,000 MW (23% of the world’s potential and 37% of the African potential); (II) 52% of freshwater supplies in Africa and (III) various potentialities in renewable energies (solar, wind, biomass, geothermal, etc.)
The mining sector strongly involves women in different activities, with 60% of women in mineral processing, about 30% in digging and 10% in the provision of other services.
In mining areas, women are involved in several activities. In quarries, they are directly involved in the ore production chain but more in intermediate work: mineral washing, transport of mineral and commodity packages, sieving, sorting and grinding of stones.
The working environment of women in mines is deplorable and yet these women constitute a considerable workforce in the chain of artisanal exploitation of minerals. There are many women in the transport sector; Paving, washing; Crushing, and other related work. These women contribute to the economy of households but their work is forgotten.
The major challenges in the context of women in mines are:
– problem of the financial capacity to have a research permit
– difficult access to credit, no guarantee
– difficult access to justice
– presence of pregnant women and children in mines
– working conditions undermine the safety of women
– the mining sector presents opportunities for women;
– opening of mineral purchase counters
– creation of mining cooperatives
– purchase of merchant card and digger card
We dare to believe that if there is any tone to give to women, they will be able to do great things to contribute to the improvement of the economic, social and political well-being of their community and Congolese society.
Diamant export statistics from January to September 2015
Gold operating statistics for January to September 2015
Women constitute a majority category in the Congolese population.
According to statistics, more than 8 million women in Africa participate in the agricultural sector, of which women contribute more than 40% of the labor force.
Unfortunately, they still face some constraints:
- Access to land (difficult)
- Access to training and technical information to strengthen their expertise in their agricultural operations throughout the chain
- Access to quality inputs; Materials, seeds, processing tools etc …
- Access to finance
- Increased notorious illiteracy among women farmers, which reinforces their weak leadership.
The country has enormous potential for the development of the agricultural sector: (I) 80 million hectares of arable land and 4 million hectares of irrigable land; (II) a fishery potential of 700,000 tons of fish per year; and (III) vast tracts of pasture to raise more than 40 million head of cattle. In its vision, the government intends to develop twenty-two agro-industrial parks including the one of BUKANGA LONZO already operational. A call is thus made to the private sector to develop their activities throughout the value chain of the BUKANGA LONZO agro-industrial park. The government is preparing to create a second agro-industrial park in LUOZI in Kongo-central.
Tourism is one of the sectors that must contribute effectively to the inclusive growth of the DRC. The country has enormous potential for the development of this sector: (I) 12% of the territory erected in protected areas; (II) 7% national parks and 57 nature reserves; (III) 4 endemic species (Mountain Gorillas, Okapi, Bonobo and Congolese Peacock) and a variety of ecosystems covering nearly 145 million hectares of forest.
The country has enormous potential for the development of this sector: (I) a road network consisting of 145,000 km (only 3,000 km covered); (II) a railway network of 5,033 km to be totally rehabilitated; (III) a maritime, river and lake network of 16,238 km to be marked, dredged and exploited; (IV) 270 airport platforms to be rebuilt; (V) 2 international seaports to modernize as well as several inland ports to equip and dredge, routes of interconnections of economic poles. With particular reference to air transport, the DRC has 500 airstrips, 101 of which are open to public traffic, including 3 international traffic (Kinshasa, Lubumbashi and Kisangani). In addition there are only 4 major cargo companies in connection to and from Sharjah, Luxembourg, Addis Ababa and 13 international airlines serving the DR Congo, including Brussels Airlines, Turkish Airlines etc.
A new state-owned company has just been set up (Congo Airways) to serve domestic routes. Low cost carriers are welcome.
There are several opportunities for investors, including: (i) construction of the deep-water port in Banana; (ii) construction of railway lines (Banana-Matadi-Kinshasa-Ilebo); (III) the modernization of the inland ports of the SCPT; (IV) the modernization of the railways of the SNCC and the SCPT, etc.
Foreign direct investment (FDI) from 2010 to 2014 (In millions of USD)