Guinea seeks Qatari FDI for projects in agriculture, mining, hydropower tech, says envoy

The Republic of Guinea is looking to attract foreign direct investments (FDIs) from Qatar for projects in a variety of sectors, such as agriculture, mining, and hydropower technology, according to the West African country’s top diplomat here.
Guinea's ambassador, Lancine Ani Toure, said the country is driven by a “keen desire,” not only to nurture diplomatic relationships but also to establish and maintain long-term economic relations between the State of Qatar and the Republic of Guinea.
Toure said Guinea is replete with great mineral resources, such as bauxite, gold, diamonds, high-quality iron, manganese, zinc, cobalt, nickel, and uranium. The West African country also has the world's largest reserves of bauxite, the ore used to produce aluminum. Currently, the bauxite reserves are estimated at over 40bn tonnes, he noted.
Citing significant hydrographic resources, Toure said Guinea has one of the highest hydropower potentials in West Africa because the country is home to the sources of the Niger, Gambia, and Senegal Rivers.
“In agriculture, the diversity of climatic conditions, hydraulic resources, and fertile soil give Guinea a natural comparative advantage in the production of a wide variety of products.
“Additionally, Guinea has a varied tourist potential. The diversity, topography, climate, and culture make Guinea a tourist paradise with varied resources,” Toure told Gulf Times in a joint statement with entrepreneur and philanthropist Farhan al-Sayed.
According to al-Sayed, investment partnerships with Guinea will provide Qatar with “great business opportunities” after the country had opened its doors to attract Qatar FDI.
“Qatar’s legal and economic reforms provide opportunities for investors and businesses from Guinea to invest in areas like Qatar Free Zone, which is creating a strong business environment for all,” al-Sayed stressed.
He added: “Guinea has shown strong interest to connect with Qatar Airways, particularly in starting cargo shipments from West Africa to Qatar and other parts of the world. This will assist Guinea in exporting its fruits, vegetables, and other products to Qatar and the region.”
Toure said, “In light of the richness of its territory, Guinea seeks to identify and obtain investment affiliations that could contribute to valorise its vast resources. With the State of Qatar, Guinea envisions an effective partnership based on a ‘win-win accommodation’ and productive cooperation that will benefit both countries. Our team at the embassy is dedicated to ensuring effective coordination and collaboration with the public and private sectors in Qatar.”