Gabon's Vice President Hermann Immongault presents new economic vision at Boao Forum in Australia
Gabon's Vice President Hermann Immongault, representing President Brice Clotaire Oligui Nguema, presented the country's new economic strategy to Asian and Australian investors at the Boao Forum for Asia in Perth, Western Australia, on July 27. Immongault advocated for a development model focused on local resource transformation, industrialization, and integrated value chains. He emphasized Gabon's shift from exporting raw materials to becoming an industrial hub, capable of processing its natural resources. Immongault stated that global economic changes necessitate a revised development model, where true wealth lies in creating local value, skills, innovation, and employment. This new industrial doctrine is evident in the mining sector, with Gabon, the world's second-largest manganese producer, aiming to develop the Belinga iron deposit in partnership with Australian group Fortescue. This project will integrate infrastructure, energy production, local processing, workforce training, and environmental considerations. The strategy extends to Gabon's natural heritage, including its forests, which cover nearly 90% of the territory and are crucial for carbon capture and biodiversity. Immongault also highlighted the scientific potential of biological resources like iboga, stressing that its development must respect local communities and ensure equitable benefit sharing. He reassured investors about reforms to enhance the country's attractiveness, focusing on legal stability, financi
