Author: OBG Admin

Daouda Coulibaly-Managing Director-Société Ivoirienne de Banque

Connecting the dots: A new project will finally link the main cities of Libreville and Port-Gentil by road

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Transport in Gabon is in the midst of a major transformation as authorities work to improve the quality and availability of infrastructure to link the country’s transport systems. One of the most notable of these initiatives is the construction of a new road that will effectively link Gabon’s second-biggest city and economic hub, Port-Gentil, to the capital, Libreville, and to the country’s main road network. Port-Gentil has one of the most important ports in the country and it is also the centre of Gabon’s petroleum

Stuart Tait-Regional Head of Commercial Banking-Asia Pacific

Filling the gap: External financing helps to support infrastructure development

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Africa’s economies have posted impressive growth rates in recent years, giving rise to the narrative of “Africa Rising”. The continent’s GDP growth of roughly 5% annually comes in spite of its lack of infrastructure, but the deficit cuts growth by an estimated two percentage points and productivity by 40%, according to the World Bank. According to an assessment by the African Development Bank, there is an infrastructure deficit of $90bn annually; only around $45bn is financed currently (66% by governments, while 10% is official development assistance and 21% is private sector), leaving $45bn to be filled. While Gabon has traditionally benefitted from a comparative level

Nhon Luc Ly-CEO-AIA Myanmar; Son Nguyen-Country President-Chubb Life Insurance Myanmar; Daw Zarchi Tin-CEO

No place like home: A shortage of affordable housing is spurring development in the real estate sector

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According to a report published by the French Ministry of Finance in 2014, more than 75% of the urban population in Gabon currently live without a land title in dwellings with limited access to basic services. With continued urban growth at an average rate of around 30,000 new city residents per year, the gap between housing supply and demand remains substantial. Estimates for the combined housing deficit in Libreville and Port-Gentil, the country’s two largest cities, range from 50,000 to 170,000 units. This means that

Nhon Luc Ly-CEO-AIA Myanmar; Son Nguyen-Country President-Chubb Life Insurance Myanmar; Daw Zarchi Tin-CEO

Luxury bed count: Increasing accommodation options alongside the broader expansion of the sector

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Steady growth in tourism is expected to continue in Gabon, with considerable potential for the hospitality sector. The government aims to increase the number of hotel rooms by 23%, from 5300 in 2013 to 8300 by 2025. Over 90% of rooms are currently located in cities. Though national parks account for only around 6% of Gabon’s hotel rooms, this is set to change, according to the National Agency of National Parks. Increasing Capacity Most growth in hotel capacity is in the capital, Libreville, and Port-Gentil, the country’s second largest city and centre of the oil industry. Ahead of the African Cup of Nations in 2012

Sheikh Ahmad Duaij Jaber Al Sabah-Chairman-Commercial Bank of Kuwait

The eco alternative: Promoting private investment in natural attractions

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In recent years, government investment in the tourism sector has been primarily aimed at upgrading infrastructure and developing high-end tourism. Though visitors to Gabon remain primarily business-oriented, the industry shows considerable potential for growth, with notable opportunities for ecotourism. According to official figures, as much as 20% of international travel to Gabon is dedicated to visits focused on nature. Encouraging the development of ecotourism as an economic alternative to exploiting the country’s natural resources is a key objective of the government’s Green Gabon plan, a pillar of the Emerging Gabon economic development strategy. Protected Areas As a destination, Gabon offers an impressive array of natural

Pham Hong Hai-CEO-HSBC Vietnam

A regional leader: By many metrics, the economy fares better than those of its neighbours

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Although in many ways similar to other Caribbean nations, Trinidad and Tobago has a number of characteristics that clearly set it apart from its neighbours. Within the region, T&T shares membership in a number of both regional and international organisations. T&T was one of the four founding members of the regional CARICOM bloc, which has since expanded to include a total of 15 member states, as well as five associate members. This organisation aims to help coordinate the interests of its members in order to provide them with greater leverage in negotiating international agreements and also to facilitate better communication between members. Beyond the regional

Daouda Coulibaly-Managing Director-Société Ivoirienne de Banque

Various government agencies are working to boost exports and inward investment in Trinidad and Tobago

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As a small twin-island nation, foreign trade is an important part of Trinidad and Tobago’s economy. In 2014 merchandise exports and merchandise imports amounted to $11.81bn and $8.39bn, respectively, according to the central bank’s “2014 Annual Economic Survey”, with total GDP that year reaching around $28bn. Some 85% of exports are accounted for by the energy sector, which includes oil, gas and petrochemicals. The remaining 15% of exports mostly include manufactured items and agricultural products. Exports & Imports Dhanraj Harrypersad, manager of the Export Market

Nhon Luc Ly-CEO-AIA Myanmar; Son Nguyen-Country President-Chubb Life Insurance Myanmar; Daw Zarchi Tin-CEO

Trinidad and Tobago has taken notable steps to improve the business environment

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Trinidad and Tobago was one of 10 countries identified by the World Bank in its “Doing Business 2015” report as having improved the most in terms of the ease of doing business through 2013-14. Of the 189 countries assessed by the organisation, T&T’s overall rank was 79th. By this measure, it compares favourably with other CARICOM and Latin America countries. Rapid Improvements For the 2015 report, T&T’s overall ranking increased by 12 spots over the previous year, making the country one of the top-10 most improved. Of the other biggest movers, most countries were among the lowest ranking overall, and therefore any improvements had the

David Gledhill-CEO-Port of Salalah

New global realities are encouraging more countries to work together on their energy policies

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In 2015 it is clear that the Caribbean energy balance is beginning to change, creating new challenges and opportunities for regional governments. A number of things are happening simultaneously. Most Caribbean countries are heavily dependent on oil imports and have accumulated high levels of debt. For them, the sharp fall in oil prices since late 2014 is creating temporary breathing space; however, this will not last indefinitely. At the same time, the deep financial difficulties faced by Venezuela, which for over a decade has supplied the region with heavily discounted crude oil, suggests the country’s generosity will have to be curtailed. Meanwhile, fundamental shifts are

Nhon Luc Ly-CEO-AIA Myanmar; Son Nguyen-Country President-Chubb Life Insurance Myanmar; Daw Zarchi Tin-CEO

Trinidad and Tobago will need to greatly streamline processes if it is to capitalise on E&P opportunities

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In more than a century of exploration and production (E&P), Trinidad and Tobago’s oil and gas has come from both onshore and offshore shallow water wells. Now, there are new frontiers to consider: deepwater ( usually defined as depths of at least 1000 metres) and ultra deepwater (3000 metres or more). In the past decade exploration has begun to focus on potential in deep-water deposits beyond the continental shelf east of Trinidad. The eight wells drilled to date confirm the presence of a working hydrocarbons