Countries of the World/COUNTRYS.BIN/dp/0139/01392.txt

Text File | 1991-06-25 | 10KB | 226 lines

$Unique_ID{COW01392}
$Pretitle{418}
$Title{Gabon
Economy A brief survey}
$Subtitle{}
$Author{Ministry of Tourism}
$Affiliation{Republic of Gabon}
$Subject{gabon
air
oil
country
million
development
now
tons
gabon's
port-gentil}
$Date{1990}
$Log{}
Country:     Gabon
Book:        Gabon Magazine
Author:      Ministry of Tourism
Affiliation: Republic of Gabon
Date:        1990

Economy A brief survey

     Gabon's per capita GNP, $3,300 in 1985, is the highest in Sub-Sahara
Africa. The economy consists primarily of oil production, mining, the export
of forest products and cash crops, and a small but rapidly expanding
industrial sector.

Oil

     Oil Production-some 9 million tons annually-must take the credit for
Gabon's rapid economic development. Gabon is currently black Africa's second
largest producer of crude oil, and its export provides two thirds of
government revenues. Fourteen companies now produce oil and natural gas in
Gabon, with ELF-Gabon and Shell-Gabon heading the list. Onshore production is
based at Mandji near Port-Gentil, at Gamba-Ivinga 180 miles to the South, and
at Lucinda. However, most of the oil flows from numerous offshore wells
located primarily near Port-Gentil.

Uranium

     Gabon is an important supplier of uranium, mined near Franceville. The
French-Gabonese mining organization, COMUF, is now producing 1,700 tons of
high-grade ore per year worth some $80 million in foreign exchange.
Development plans for the industry included an already completed construction
of a processing plant that will produce 1,500 tons of upgraded "yellow cake"
per year. In addition, new reserves in the N'Khan area promise that uranium
will continue to play an important part in Gabon's economic future.

Manganese

     Gabon is one of the world's largest exporters of manganese, an essential
ingredient in the making of high-grade tool steels. The area around Moanda,
where it is mined, contains over 200 million tons of ore, a full one quarter
of the world's known reserves. The Moanda mine, 45% owned by the United States
Steel Corporation, supplies the U.S. with much of its manganese. Other
minerals found in Gabon include lead, gold, iron ore, chrome, and diamonds.

Timber

     Until the oil boom of 1970s, forest products were Gabon's largest export
earner. Timber continues to play an important role in the nation's economy.
Forests cover almost 85% of Gabon and one quarter of the work force is
employed in the industry. Gabon produces 1.6 million tons of timber each year,
and a pulp and paper mill now under construction near Kango will make Gabon
Africa's largest producer of such products.

     Planning and development of the forest industry are now centralized in
the Societe Nationale des Bois du Gabon (SNBG), which is also responsible for
marketing timber abroad. Gabon currently exports forest products valued at
$160 million annually.

Agriculture

     Agriculture has occupied a relatively low priority over the last 10 years
as industrial expansion replaced an emphasis on cash crops. Some 350,000 acres
are now under cultivation, and coffee, cocoa, sugar cane and palm oil are
produced for export. The principal food crops are manioc, yams, bananas, rice,
maize, cassava, string beans and sweet potatoes. Rubber plantation is well
under way in various regions of the country since 1983. Processing and
manufacturing of tires has also started. Thanks to a $325 million development
plan, agricultural expansion is taking place in all areas of the country.

Manufacturing

     Gabon produces about $300 million worth of manufactured goods each year,
contributing 6% to GNP. The oil refinery is the most important industry, but
others include asphalt, cement, textiles, shoe, paint and cigarette factories,
a sugar refinery, a flour mill, four breweries, several saw mills, and metal
and wood working plants.

Fishing

     Gabon has a small but growing fishing industry. At the moment, 17
trawlers and two tuna vessels operate out of Port-Gentil. Within the nation's
fishing limits, however, vast fish resources have yet to be tapped. It is
estimated that Gabon could harvest 20,000 tons of trawled and rock fish per
year, plus 15,000 tons of tuna. In addition, sardines are abundant. To
encourage fishing, Gabon is improving the port facilities, and a plan is
underway to build a fish meal processing plant.

Investment Opportunities

     Gabon has an ideal environment for foreign investment. The country's
stable and pragmatic government follows a liberal investment policy, and
actively encourages participation in the country's future. Often considered a
sort of "African Eldorado," the country plays host to a wide range of foreign
companies, attracted by exceptionally generous terms of trade. These include
liberal exchange controls, free transfer of funds, repatriation of profits,
tax exemptions, guarantees, and other forms of preferential treatment,
depending upon the importance and capital contributions of the project.

     Opportunities for investment include industrialized agriculture, food
processing, stock breeding, forestry, fishing, manufacturing, mining, oil
research and the development of tourism. Import policy is aimed at the
encouragement of consumer goods and industrial equipment essential to the
growth and development of the nation, and Gabon wishes to diversify its
sources of supply. Major import needs center around foodstuffs, agricultural
and mining equipment, tools, and consumer durables.

     The investment Law of 1967 provides a firm basis for foreign
participation and describes categories and requirements for five levels of
capitalization, ranging from small businesses located in and doing business
only in Gabon, to large multinational corporations.

Transportation Getting there and around

By air

     Air Gabon is the national carrier of the Republic of Gabon, linking the
major centers of Europe with their counterparts in West, East, and Central
Africa. Air Gabon serves Paris, Marseilles, Nice and Rome by Boeing 747 jets
and Bangui, Cotonou, Dakar, Douala, Lagos, Lome, Malabo and Pointe Noire by
737's. In collaboration with Swissair and Sabena, Air Gabon also serves
Geneva and Brussels respectively. Within the country, Air Gabon flies Fokker
"Friendship" F28's.

     Air Gabon, also plays the role of the goodwill ambassador, introducing
the traveler to the charm of Gabon's traditional hospitality through exemplary
service, fine cuisine, and some of the continent's best music. At home, the
airline helps to integrate the entire country into the national economy,
promoting friendship and national unity.

     Evolving from a small domestic carrier, Air Gabon began international
service in 1978. Today, Air Gabon flies to 13 international destinations and
serves 25 airports within the country.

     Leon MBA international Airport in Libreville is also currently served by
Swissair, UTA, Air Zaire, Air Afrique, Cameroon Airlines, Sabena, Royal Air
Maroc, British Caledonian, Nigeria Airways, and Lufthansa.

     Gabon has an extensive civil aviation network, served by companies like
Air Inter Gabon. The country's 80 smaller airports are being developed to full
international standards, and secondary airports are being enlarged to handle
increased freight and passenger traffic. Efficient air charters to most parts
of the country, in anything from small Cessnas to 10-seater executive jets,
are easy to arrange through Air Affaires Gabon, Air Service and Air Inter
Gabon.

     To the Traveler Air Gabon offers:

     a. Ideal connections through Paris, Dakar and/or Abidjan for travel to
and from Gabon.

     b. Several Air Gabon flights from Paris and cities in West Africa for
travel to and from Gabon.

     c. Efficient and modern equipment complemented by excellent inflight and
ground services.

     d. First hand knowledge of Gabon.

By train

The TRANSGABON: Africa's newest railway

     They said it couldn't be done, but today the Transgabon is a reality. The
newly ope