Bissau investment immigration has become very popular in recent years, attracting the attention of Chinese investors towards Guinea-Bissau. Our country has had cooperation with Guinea-Bissau in agriculture and fisheries for many years. In agriculture, the agricultural technology cooperation between the two governments has gone through four phases, each lasting two years. In addition to agricultural cooperation, we also have fisheries cooperation with Guinea-Bissau. The fisheries cooperation between China and Guinea-Bissau has lasted for over 20 years, with early cooperation being between the two governments. After the diplomatic break in 1990, the fisheries cooperation shifted to collaboration between China National Fisheries Corporation and the Guinea-Bissau government, primarily focusing on marine fishing. Through more than 20 years of cooperation, the Guinea-Bissau government has greatly benefited in terms of fiscal revenue, fish market supply, and employment opportunities.
From 2000 to 2006, China's direct investment in Guinea-Bissau fluctuated between 23 million to 34 million USD, with investment amounts declining for two consecutive years in 2005 and 2006.
China's total engineering contracting in Guinea-Bissau has varied significantly, with a relatively small absolute amount, totaling 22.91 million USD in 2006. The volatility is mainly due to the instability of the domestic political and economic situation in Guinea-Bissau. Most of China's engineering contracts in Guinea-Bissau are government aid projects, such as the "People's Palace", presidential guard dormitories, and repairs to the Kasong Hospital.
Currently, there are opportunities for direct investment and labor cooperation in Guinea-Bissau:
First, Guinea-Bissau encourages investment in mineral resource development. In the late 1990s, Guinea-Bissau began to formulate a new "Mining and Mineral Law" aimed at protecting exploration and mining companies, as well as the interests of the nation and government. This law stipulates that artisanal mining and mineral exploration can only be conducted by citizens of Guinea-Bissau, indicating that the government encourages foreign enterprises to participate in mineral resource development in other sectors.
Secondly, Guinea-Bissau encourages investment in agriculture and animal husbandry. To attract foreign investment, the Guinea-Bissau government established the Private Investment Promotion Agency to provide comprehensive assistance to foreign investors. Similar to other industries, the government offers various incentives to encourage foreign investment in agriculture and animal husbandry, such as preferential land use, tax reductions, and exemptions from import duties on agricultural machinery and other production materials. Guinea-Bissau has weak education, lacks new technology, has a shortage of talent, and low production efficiency. There is an urgent need for foreign technical guidance and cooperation.
Thirdly, Guinea-Bissau encourages investment in underdeveloped areas. The Investment Law of Guinea-Bissau stipulates that projects established outside the administrative jurisdiction of the Bissau region can receive a 50% reduction in the relevant transportation tax. For infrastructure, roads, ports, and warehouses, all fees can be waived. There are special legal provisions for establishing tourism infrastructure.
Fourthly, Guinea-Bissau lacks railways, relying mainly on road and water transport, with inland and coastal shipping playing an important role. Overall, the transportation infrastructure is relatively underdeveloped, presenting opportunities for engineering contracts in this field.
Guinea-Bissau faces an energy shortage, with severe electricity shortages and virtually no national power plants. Units and residents mainly rely on self-generated electricity. There are opportunities for engineering contracts in this field.
