HomeReportsBureau of Economic and Business Affairs2018 Investment Climate Statements...Equatorial Guinea

# 					2018 Investment Climate Statements: Equatorial Guinea			

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													Executive Summary											

                -  Executive Summary 
                -  1. Openness To, and Restrictions Upon, Foreign Investment   
                -  2. Bilateral Investment Agreements and Taxation Treaties   
                -  3. Legal Regime   
                -  4. Industrial Policies   
                -  5. Protection of Property Rights   
                -  6. Financial Sector   
                -  7. State-Owned Enterprises   
                -  8. Responsible Business Conduct   
                -  9. Corruption   
                -  10. Political and Security Environment   
                -  11. Labor Policies and Practices   
                -  12. OPIC and Other Investment Insurance Programs   
                -  13. Foreign Direct Investment and Foreign Portfolio Investment Statistics   
                -  14. Contact for More Information   

## Executive Summary

The Republic of Equatorial Guinea is endowed with abundant oil and gas resources and hosts USD 650 million in direct U.S. investment according to the Bureau of Economic Analysis. The general investment climate in the country, however, is undermined by corruption and a burdensome, inefficient bureaucracy. International watchdog organizations, to include the World Bank Group, give Equatorial Guinea one of the world’s lowest rankings in various global indices, including those for corruption, transparency, and ease of doing business. These poor ratings underscore the challenging and opaque environment in which both local and foreign businesses must operate.

The government of the Republic of Equatorial Guinea is seeking investment in several sectors: agribusiness; fishing; energy and mining; chemicals, petrochemicals, plastics and composites; travel and tourism; and finance. Most of these sectors are undeveloped. The Equatoguinean domestic market is small, with an estimated population of one million, although the country is a member of the Central African Monetary and Economic Union (CEMAC) sub-region, which is home to more than 50 million people. The zone has a central bank and a common currency – the Central African (CFA) franc.

Discovery of oil in 1990s resulted in rapid economic growth in the early 2000s; growth has slowed as operational oil fields have matured. After oil prices started dropping in 2015, Equatorial Guinea began extending timelines for completing infrastructure projects.

Equatorial Guinea has made significant advances toward the completion of the first phase of the country’s Horizon 2020 social development plan, which emphasized infrastructure construction. Equatorial Guinea boasts about having some of the region’s best roads and other essential infrastructure, including the development of ports.

The government of the Republic of Equatorial Guinea has announced plans to improve the ease of doing business by creating a one-stop-shop for investors and entrepreneurs, creating a body to solve business disputes, and establishing a government co-investment fund of USD1 billion. The government claims the fund is ready for distribution, and has made progress toward implementing the other measures.

The government of the Republic of Equatorial Guinea has instituted certain tax exemptions to attract investment, but those exemptions receive significant scrutiny as economic conditions have declined. In addition, recent commercial disputes have involved delayed payment, or non-payment, by the government of the Republic of Equatorial Guinea to foreign firms for delivered goods and services.

The government of the Republic of Equatorial Guinea is working to change the terms of long-standing contracts with major foreign firms and disputes are ongoing. By the end of 2015, foreign businesses had already started departing the country as the government grappled with finances; this trend continued in 2017 with the departure of oil company Amerada HESS, replaced by Kosmos Trident.

The Equatoguinean judicial system is not independent, as the president is the chief magistrate. Corruption exists throughout the government of the Republic of Equatorial Guinea, including the judiciary, creating challenges for U.S. businesses that seek to protect their investments. In addition, the government of the Republic of Equatorial Guinea has confiscated passports of foreign managers, while resolving disputes; in one case, a foreign executive could not leave Equatorial Guinea for nine months.

Equatorial Guinea does not require U.S. citizens to obtain visas, but visas can be very difficult to obtain for third-country nationals, and generally require a letter of invitation from the Equatoguinean government, which can take months to obtain. Residency permits can be similarly difficult to obtain and or renew; fees for these permits are expensive; in March 2018, prices were cut in half. The U.S. Embassy regularly experiences delays during the residency permit process of six months or more. Equatoguinean government officials will provide multiple explanations such as the misplacement or loss of original documents. Similar delays plague the local customs system.

Despite the many challenges, U.S. businesses, which strictly comply with Foreign Corrupt Practices Act (FCPA) requirements, have had success in the hydrocarbons sector, and some U.S. businesses have found rewards in other sectors. U.S. businesses will likely continue to invest in the country in light opportunities in the market.

*Table 1*

							1. Openness To, and Restrictions Upon, Foreign Investment					

**Policies Toward Foreign Direct Investment**

The government of the Republic of Equatorial Guinea is actively soliciting foreign investment. In 2017, the Minister of Economy and Finance attended the Investment Initiative for the Future Forum, held from the 24th to the 26thof October in the city of Riyadh, Saudi Arabia, to promote its strong investment capabilities and unique strategic location to become a global investment hub connecting three continents.

The primary focus of the Future Investment Initiative is to provide a platform for objective, expert-led debate on both current and long-term global investment trends, with the ultimate aim of exploring opportunities for achieving sustainable returns, which deliver positive and lasting impacts. The government of the Republic of Equatorial Guinea recently passed a law to establish a “one-stop-shop” for investors and simplify the process to register a business. This new process is expected to begin in 2018, as the government of the Republic of Equatorial Guinea has fully-constructed facilities equipped for processing applications, and the government has started training staff.

**Limits on Foreign Control and Right to Private Ownership and Establishment**

Decree 127/2004 stipulates that shareholder capital firms and companies operating in the petroleum sector must have Equatoguinean shareholders. The government of the Republic of Equatorial Guinea requires that Equatoguinean partners hold at least 35 percent of share capital of foreign companies or companies created by foreigners. Equatoguinean partners must also account for one third of the representatives on the Board of Directors. In some sectors, investments must be part of public-private partnerships with a government entity. The Chamber of Commerce of Equatorial Guinea is attempting through media campaign to sensitize Equatoguinean companies to their roles and responsibilities to foreign partners.

Statutorily, the Minister of Economy, Finances, and Budget Investments approves investment permits. A new state entity, Holdings Equatorial Guinea 2020, was created to help guide diversification efforts (significant permit-holders include ALTAAQA GLOBAL: joint-venture of Zahid Group with Caterpillar, and PLATECORE EDUCATION EMEA “AF/EU/ME”). This entity is expected to ultimately serve as a hub for foreign investors. For now, however, investors still work with the relevant government ministries to negotiate contracts. Decisions regarding larger investment deals may rise to the presidential level. U.S. investors may reach out to the Equatoguinean Embassy in the United States for guidance regarding connection to the appropriate ministry outreach efforts.

**Other Investment Policy Reviews**

This year the government of Equatorial Guinea has adhered to the Improved Integrated Framework Program of the World Trade Organization, which is a program of aid for trade, intended exclusively for the least developed countries.

**Business Facilitation**

According the World Bank’s Doing Business 2017 report, starting a business in Equatorial Guinea requires 17 procedures and takes 134 days. The government of the Republic of Equatorial Guinea does not maintain a website for guidance, and starting a business requires multiple trips to the appropriate government agency and lengthy waits. As a result, Equatorial Guinea isplaced 187 in the ranking of 190 economies on the ease of starting a business.

The government of the Republic of Equatorial Guinea recently passed a law to establish a “one-stop-shop” for investors and simplify the process to register a business. This new process is expected to begin in 2018, as the government of the Republic of Equatorial Guinea has fully-constructed facilities equipped for processing applications, and the government of the Republic of Equatorial Guinea has started training staff.

**Outward Investment**

Although Equatoguinean citizens may legally invest outside the country, the government of the Republic of Equatorial Guinea discourages outward investment. The government’s only outward investment are its production-sharing contracts with foreign oil and gas companies.

							2. Bilateral Investment Agreements and Taxation Treaties					

Equatorial Guinea and the United States have not signed a Bilateral Investment Agreement, a Free Trade Agreement, nor a Bilateral Taxation Treaty. The country does, however, have several bilateral taxation treaties with the following countries:

- China, signed in 2005, entered into force in 2006;
- Ethiopia, signed in 2009, not currently in force;
- France, signed in 1982, entered into force in 1983;
- Morocco, signed in 2005, not currently in force;
- Russia, signed in 2011, not currently in force;
- South Africa, signed in 2004, not currently in force;
- Spain, signed in 2003, entered into force in 2003;
- Ukraine, signed in 2005, not currently in force.

Equatorial Guinea is also party to various other economic agreements, namely the following:

- Cotonou Agreement EU, entered into force in 2003;
- African Union Treaty, entered into force in 1994;
- Economic Community of Central African States Treaty, entered into force in 1984;
- CEMAC Convention on Liberalization, entered into force in 1972;
- CEMAC Investment, entered into force in 1966.

							3. Legal Regime					

**Transparency of the Regulatory System**

The government of the Republic of Equatorial Guinea publishes Equatoguinean labor laws for public consumption, however, they do not consistently apply regulations. Officials expect foreign companies to follow every detail of the labor law or face penalties. Enforcement of the labor law on national companies is far less strict. Bureaucratic procedures are neither streamlined nor transparent, and can be extremely slow for those without the proper political or familial connections. Proposed laws and regulations are not published in draft form for public comment, but are sometimes informally shared with representatives of specific industries for comment.

**International Regulatory Considerations**

Equatorial Guinea is not a member of the World Trade Organization (WTO) and is listed as an observer government. The General Council of the WTO established a Working Party to examine the application of Equatorial Guinea on February 5, 2008. Efforts to join have faltered, as Equatorial Guinea has not submitted a Memorandum on the Foreign Trade Regime. Equatorial Guinea is part of the Economic Monetary Community of Central Africa (CEMAC) and the Economic Community of Central African States (ECCAS).

**Legal System and Judicial Independence**

Equatorial Guinea’s legal system is a mixed system of civil and customary law. Law No. 7/1992 states that disputes that cannot be resolved through direct negotiation by the involved parties shall be referred to Equatoguinean courts. Either party can also submit the dispute to international arbitration. Foreign investors are asked to declare their desired international arbitration venue in their initial application to invest in the country. Arbitration must take place in a neutral location and Spanish will be the official language of the arbitration. The government of the Republic of Equatorial Guinea does not always comply with signed international agreements or international legal decisions.

**Laws and Regulations on Foreign Direct Investment**

Law No. 7/1992, Law No. 2/1994, Decree No. 54/1994, and Decree 127/2004 regulate foreign investment. Certain industries have additional regulations. Enforcement of laws and judicial decisions is neither reliable nor consistent. The executive branch heavily influences the judicial branch, as the president is also the chief magistrate of the Republic of Equatorial Guinea. While the government has made efforts to streamline inward investment procedures and simplify business registration processes, they have not yet implemented these processes.

**Competition and Anti-Trust Laws**

Equatorial Guinea does not have an agency that actively enforces any competition laws. Because Equatorial Guinea is a member of the Organization for the Harmonization of Business Laws in Africa (OHADA), any OHADA competition laws should apply in Equatorial Guinea.

**Expropriation and Compensation**

Law No. 7/1992 states that the government will not expropriate foreign investments except when acting in the public interest with fair, just, and proper compensation. The government of the Republic of Equatorial Guinea does not generally nationalize or expropriate foreign investments, although in 2013 a Spanish investor had his property confiscated. The government of the Republic of Equatorial Guinea does have an extensive record of expropriating locally-owned property, frequently offering little or no compensation.

**Dispute Settlement**

*ICSID Convention and New York Convention*

Equatorial Guinea is not a party to the Convention on the Settlement of Investment Disputes between States and Nationals of Other States (ICSID Convention — also known as the Washington Convention), although Law No. 7/1992 states that international arbitration may utilize ICSID as the basis of procedure. Equatorial Guinea is not a party to the New York Convention of 1958 on the Recognition and Enforcement of Foreign Arbitral Awards.

*Investor-State Dispute Settlement*

Recent investment disputes have centered on non-payment to investors or contractors by the government of the Republic of Equatorial Guinea or state-owned enterprises (SOEs). Few established local mechanisms compel the government of the Republic of Equatorial Guinea to pay investors, and the Embassy has limited capacity to intervene. U.S. and foreign enterprises from France, Cote d’Ivoire, Lebanon, Egypt, and Turkey, operating in the Republic of Equatorial Guinea, have been subject to non-payments or severely delayed payments and have received no recourse in payment disputes. This, along with the downturn in the economy, has led to all many foreign-led operations to pull out of the country completely or downsize substantially.

*International Commercial Arbitration and Foreign Courts*

The OHADA Uniform Act on Arbitration rules would apply where the seat of arbitration is in Equatorial Guinea.

**Bankruptcy Regulations**

The government of the Republic of Equatorial Guinea has adopted the business laws of the Organization for the Harmonization of Business Laws of Africa (OHADAOHADA), including the law pertaining to bankruptcy. The Republic of Equatorial Guinea currently ranks in last place for processes related to resolving insolvency, according to the World Banks’s Doing Business Report’s ranking of Resolving Insolvency.

The Republic of Equatorial Guinea received the World Bank’s ‘no practice mark,’ due to the lack cases, in the past five years, involving a judicial reorganization, judicial liquidation, or debt enforcement. This is interpreted to mean that creditors are unlikely to recover their money through a formal legal process.

							4. Industrial Policies					

**Investment Incentives**

Law No. 2/1994 offers investment incentives, in the form of deductions from taxable income: 50 percent of the amount paid to Equatoguinean staff in wages and 200 percent of the cost of training Equatoguinean staff. In February 2014, the government also announced a co-financing fund intended to partner with new foreign investment projects. However, no money has been placed in the fund nor has the government published regulations as to how a foreign company may apply for co-financing.

**Foreign Trade Zones/Free Ports/Trade Facilitation**

Luba Freeport, the Port of Bata, and the K5 Oil Center have tax-free status.

**Performance and Data Localization Requirements**

The government of the Republic of Equatorial Guinea specifies that a minimum percentage of employees and subcontractors must be Equatoguinean, ranging from 70 to 90 percent. The government of the Republic of Equatorial Guinea does not strictly enforce these measures.

The Ministry of Mines and Hydrocarbons is considering a new national content decree for the hydrocarbons sector, which would require that Equatoguineans hold certain supervisory or management positions. However, that decree is still in the draft stage and has not been made public.

Foreign investors are required to have a percentage of domestic content in goods and technology.

The government of the Republic of Equatorial Guinea requires internet service providers, whether local or foreign, to turn over source code or provide access to surveillance. According to article 15 of the Telecommunication law (law 7, dated November 7, 2015) Equatoguinean government offices are supposed to report, to the regulation office, any information concerning official communications lines and network. The government of the Republic of Equatorial Guinea has no requirements pertaining to maintaining data storage within the country.

The Republic of Equatorial Guinea does not require U.S. citizens to obtain visas, but visas can be very difficult to obtain for third-country nationals, and generally require a letter of invitation from the Equatoguinean government, which can take months to obtain. Residency permits can be similarly difficult to obtain and or renew; fees for these permits are expensive; in March 2018, prices were cut in half. The U.S. Embassy regularly experiences delays during the residency permit process of six months or more; Equatoguinean government officials will provide multiple explanations such as the misplacement or loss of original documents.

							5. Protection of Property Rights					

**Real Property**

The government of the Republic of Equatorial Guinea selectively enforces property rights. While the government has laws regarding the rights of property owners, the government exercises eminent domain with little, if any, due process via the judicial system or compensation for the property owner. Mortgages do exist under a ‘Social Housing Program’ where payments are made to the government via CCEI Bank. The length of time varies and can be more than 20 years. Interest rates are high, ranging from 12 to 18 percent. Non-payment for six months results in the foreclosure of the property.

**Intellectual Property Rights**

Equatorial Guinea is a member of the African Intellectual Property Organization. Intellectual property protections fall under the Council of Scientific and Technological Research of Equatorial Guinea. Equatorial Guinea does not report on seizures of counterfeit goods. Legal structures are weak and enforcement of intellectual property rights is rare to non-existent. Equatorial Guinea is not listed in USTR’s the U.S. Trade Representative’s Special 301 report. Equatorial Guinea joined the World Intellectual Property Organization in 1997. Equatorial Guinea is not listed in USTR’s Special 301 report. For additional information about national laws and points of contact at local IP offices, please see WIPO’s country profiles at: http://www.wipo.int/directory/en/ .

**Resources for Rights Holders**

Embassy Contact:

Bryan SchillerPolitical Economic Officer (ad-interim)U.S. Embassy Malabo+240-333-095-741SchillerB@state.gov

							6. Financial Sector					

**Capital Markets and Portfolio Investment**

The small banking sector provides limited financing to businesses. Capital markets are virtually non-existent.

In 2015, the country had USD 834,015,839 in total outstanding debt at years end. This was several USD 100 million less than in previous years, representing a decreasing trend since 2011.

The average interest rate on loans has varied. The most recent average is from 2014, when it was 8.81 percent. There are no microfinance institutions in the country.

**Money and Banking System**

The government of the Republic of Equatorial Guinea is a member of the Economic and Monetary Community of Central African States and shares a regional Central Bank with other CEMAC members. Members have ceded regulatory authority over their banks to CEMAC. The government of the Republic of Equatorial Guinea is also a member of the Banking Commission of Central African States within CEMAC. The banking sector, much like the country, is plagued with overly burdensome bureaucracy, red tape, and a lack of computerized record-keeping.

All contracted employees are required to have a bank account, which is still a very low percentage due to the fact that a lot of people are working without a contract, just like everything else in country the banking system is considered weak compared to other countries in the CEMAC. The total number of assets in the banking sector was USD 3,407,220,000 in 2015. All banks in country are foreign banks expect the national bank, with five commercial banks in the country as of 2015. There is not any correspondent banking in country. In 2015, there were 52 ATMs in the country. This is an improvement from 4 ATMs in 2007.

**Foreign Exchange and Remittances**

*Foreign Exchange Policies*

Along with 13 other countries, Equatorial Guinea utilizes the Central African Franc (XAF). It is not easily obtained outside of the Central African Franc zone. The XAF is backed by the French treasury, which covers a large share of central and western African countries. Western African countries generally use the Western African Franc (XOF), but the two currencies are effectively interchangeable. Both currencies have a fixed exchange rate tied to the euro. One euro is equal to 655.95 Francs.

*Remittance Policies*

Decree No. 54/1994 provides the right to freely transfer convertible currency abroad at the end of each fiscal year. Limited financial services create barriers to successfully executing international transfers.

Local currency is not widely available outside of the Central African Franc zone, but can be relatively easily obtained in the Republic of Equatorial Guinea. The country is an almost entirely cash economy, with credit cards available, but not widely used in the general population. Credit cards are used primarily by visitors or wealthy citizens at international hotels.

There have been no recent changes or plans to change investment remittance policies. Equatorial Guinea is a member of the Task Force against Money Laundering in Central Africa, an entity in the process of becoming a Financial Action Task Force-style regional body.

Equatorial Guinea does not engage in currency manipulation as the CFA franc (CFA) currently has a fixed exchange rate to the Euro (EUR): CFA100 = 1 former French (nouveau) franc = EUR0.152449; or EUR1 = CFA655.957.

The Bureau of International Narcotics and Law Enforcement’s 2015 International Narcotics Control Strategy Report (INCSR) lists Equatorial Guinea as a monitored country.

**Sovereign Wealth Funds**

The government of the Republic of Equatorial Guinea established a sovereign wealth fund, the Fund for Future Generations, in 2002. The fund has little transparency regarding how the fund is managed or the value of the fund. The U.S. Department of the Treasury and the Board of Governors of the Federal Reserve ranks the fund as the least transparent fund in the world.

							7. State-Owned Enterprises					

The Republic of Guinea Equatorial has five SOEs in the energy and mining, and information and communication sectors. The state-owned oil company, GEPetrol, has preferential right of joint ownership in the oil sector, but does not have the capacity to be the principal operator. In theory, SOEs are supposed to report to the Ministry of Mines and Hydrocarbons and hold monopolies in their respective sectors; however, in practice, management of GETESA (national internet provider) falls to Ministry of Communications and SEGESA (national electricity company) reports to Ministry of Industry and Energy.

							8. Responsible Business Conduct					

Many U.S. firms operating in Equatorial Guinea have well-developed corporate social responsibility programs. The Ministry of Mines and Hydrocarbons has established industry-specific regulations that mandate minimum rates of corporate social responsibility (CSR) contributions. The government of the Republic of Equatorial Guinea is considering regulation that would increase those rates. Many U.S. oil and gas companies tend to exceed those rates. Most firms from other countries have limited CSR programs. The government has expressed their appreciation for the U.S. companies’ efforts and recognized the positive role of U.S. firms.

There are several non-governmental organizations operating in the country that work in fields in which CSR takes place, often as partners with the companies, but do not fulfill a monitoring role. Equatorial Guinea had prepared a submission to participate in the Extractive Industries Transparency Initiative, but failed to meet the necessary deadlines. The country is preparing to submit another application to rejoin EITI after being delisted in 2010 for missing its validation deadline.

							9. Corruption					

The government of the Republic of Equatorial Guinea has strict laws against corruption, but they are not enforced, and as a result, corruption is very common. U.S. companies operating in Equatorial Guinea adhere to the constraints rules of the Foreign Corrupt Practices Act. U.S. firms report that they are concerned about corruption related to government procurement, award of licenses and concessions, and dispute settlement.

The country’s greatest concerns in terms of money laundering and terrorism financing are cross-border currency transactions and the illegal international transfer of money by companies or corrupt individuals. Widespread corruption, at times involving the highest levels of the government, is a primary catalyst for money laundering and other financial crimes. Diversion of public funds and corruption are widespread in both commerce and government, particularly with regards to the use of proceeds from the extractive industries, including oil, gas, and timber, and infrastructure projects, most likely sources of laundered funds.

Equatorial Guinea is not a signatory to the United Nations (UN) Convention against Corruption. The country also is not party to the OECD Convention on Combating Bribery of Foreign Public Officials in International Business Transactions.

							10. Political and Security Environment					

President Obiang Nguema Mbasogo has been in power since 1979, making him the world’s longest serving non-royal head of state. Obiang maintains an absolute grip on political and economic power in the country. Since its independence Equatorial Guinea has yet to have a free and fair election. The regime keeps the country’s small political opposition under strict control. For example, in the November 12 legislative and municipal elections, the President political party the PDGE and 14 coalition parties won 92 percent of the vote in the country’s closed-list party system. The PDGE and its 12 coalition parties took all 75 Senate seats and 99 out of 100 seats in the Chamber of Deputies. At the local level, the PDGE coalition won all except one of the municipal council seats and all except one mayoral race.

There were irregularities and a lack of transparency in the electoral process. The voter census and registration process was conducted without independent domestic or international monitoring. The government restricted media access to the opposition and blocked access to social media and opposition websites during the electoral campaigns. Official observer communication was restricted on the day of the elections by a shutdown of the internet. The government created an atmosphere of intimidation by deploying military personnel at polling stations. EU and diplomatic observers noted numerous irregularities at monitored polling stations. Compared with other countries in the region, the level of violent crime in Equatorial Guinea is low and there have been very few cases of expatriate needing consular assistance. However, there are an increasing number of robberies against people travelling by taxi.

							11. Labor Policies and Practices					

Equatorial Guinea has a consistent shortage of skilled labor. Unskilled labor is readily available. Youth unemployment is widespread. In 2017, 29.3 percent of youth ages 15-24 were employed, a 0.08 percent decrease from 2015. A high percentage of the country’s workforce participates in the informal economy.

The oil and gas industry claims to have a shortage of trained individuals. Many companies in the oil and gas sector sponsor training programs, while the government of the Republic of Equatorial Guinea sponsors a limited number of students for short and long-term international training and academic programs.

Despite challenges in finding skilled labor, the government of the Republic of Equatorial Guinea requires that companies hire a specified percentage of nationals. Employers must make extensive severance payments even when employment demands fluctuate due to market conditions.

Compared to the United States, labor laws in the Republic of Equatorial Guinea are generally favorable toward the employee. Labor disputes may be heard by the parliament or in the courts, and the decisions typically favor the employee. Aside from a union of small farmers and the taxi association, the government of the Republic of Equatorial Guinea does not recognize any labor unions. Small collectives and associations are allowed to register with the government, but do not carry out labor advocacy efforts.

Local government enforcement of labor laws is mostly focused on preventing companies from employing and exploiting unauthorized migrants. The government of the Republic of Equatorial Guinea has regulations to monitor health and safety standards and an inspection force, but enforcement is ineffective. Although the Republic of Equatorial Guinea does not actively enforce internationally-recognized labor rights, employees generally are not subjected to abusive work conditions.

							12. OPIC and Other Investment Insurance Programs					

In 2010, OPIC granted USD 150 million towards investment in private companies in West Africa, to include Equatorial Guinea. However, this financial support has been focused in Nigeria. OPIC and Equatorial Guinea have a signed bilateral agreement for economic cooperation.

							13. Foreign Direct Investment and Foreign Portfolio Investment Statistics					

*Table 2: Key Macroeconomic Data, U.S. FDI in Host Country/Economy*

*Equatorial Guinea does not produce figures for public consumption in regards to their finances.*Table 3: Sources and Destination of FDI*

Data not available.*Table 4: Sources of Portfolio Investment*

Data not available.

							14. Contact for More Information					

Bryan SchillerPol-Econ Chief (ad interim)U.S. Embassy Malabo+240-333-095-741SchillerB@state.gov

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### On This Page

                    -  Executive Summary 
                    -  1. Openness To, and Restrictions Upon, Foreign Investment   
                    -  2. Bilateral Investment Agreements and Taxation Treaties   
                    -  3. Legal Regime   
                    -  4. Industrial Policies   
                    -  5. Protection of Property Rights   
                    -  6. Financial Sector   
                    -  7. State-Owned Enterprises   
                    -  8. Responsible Business Conduct   
                    -  9. Corruption   
                    -  10. Political and Security Environment   
                    -  11. Labor Policies and Practices   
                    -  12. OPIC and Other Investment Insurance Programs   
                    -  13. Foreign Direct Investment and Foreign Portfolio Investment Statistics   
                    -  14. Contact for More Information   

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