DR Congo Eyes Indian Opportunities Across Sectors

MUMBAI, INDIA - Indian Minister of State for External Affairs, Government of India, Gen. (Dr.) V. K. Singh spoke at a seminar on ‘Investment Opportunities in Democratic Republic of Congo’. Minister Singh said, “Democratic Republic of Congo is Africa’s 2nd largest country. In the last 5 years, it has improved its investment climate. Together with ‘ease of doing business’ especially in mining, agriculture and power sector, Congo offers tremendous business opportunities for India.” The seminar was organized by World Trade Centre (WTC) Mumbai, All India Association of Industries (AIAI) and the Federation of Associations of Small Industries of India (FASII) in association with the Embassy of Democratic Republic of Congo in Mumbai on April 14, 2017 at the WTC Mumbai.

Minister Singh further added that India and Congo share several complementarities particularly in agriculture, mining and tourism. India and Congo enjoy excellent trade, political and cultural ties he stressed. H. E. Mrs. Rosette Mossi Nyamale, Hon’ble Ambassador of Democratic Republic of Congo in India presided over the event.

Ambassador Nyamale, said that both countries share historic relations with a common struggle for independence. She thanked the Minister for extending credit lines for construction of two hydroelectric dams to transform Congo. She advocated that both countries must develop a synergy of action, through public-private partnership and create a conducive environment for co-operation between the countries to meet the aspirations of Indian and Congolese people.

Further, she added, “The liberalization of the energy sector is aimed at promoting private investment in the fields of production, distribution and transportation of electricity. To bridge Congo’s energy deficit, the government has launched various projects including construction of Inga III power plant (4,500 MW) and Grand Inga (39,000 MW) at a cumulative cost of USD 60 billion.”

Congo is also looking forward to promote tourism through several measures, said H. E. Mrs. Nyamale.

Mr. Kamal Morarka, Chairman, World Trade Centre Mumbai said, “The 54-country African continent is almost as populous as India. It has rich mineral resources, forest, wildlife and other tourist attractions. However, there is lack of awareness about Africa’s business potential in India.” He further offered support to Embassy of Congo to build a World Trade Centre Congo which can then be a member of World Trade Centers Assocaition (WTCA), having a strong global trade and business network with 320 WTCs across 89 countries connecting one million businesses, advocated Mr. Morarka.

Mr. Vijay Kalantri, President, AIAI said, “Congo has nearly 10,000 Indians and PIIOs sharing sound political and economic relationship with India. India is among the first countries to establish diplomatic mission in Kinshasa, the capital city of Congo. In last few years, the bilateral trade with Congo has grown considerably to nearly USD 500 million. A conducive business environment and ease of doing business will offer great opportunity for Indian businesses to invest in Congo.”

In Photo From (L to R): Gen (Dr.) V. K. Singh, Mr. Kamal M. Morarka and H. E. Mrs. Rossette Mossi Nyamale.

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