GUINEA'S GOAL
The country aims improve its investment climate and encourage development of its mining sector
Photo by: Bloomberg
The World Bank Group, the African Development Bank (AfDB) and the government of Guinea have launched the One-Stop Shop – a facility for business procedures that will simplify and accelerate the processing of licences, permits and other approvals for integrated mining and infrastructure projects.
The facility – established by the government of Guinea, with support from the financial institutions – aims to improve the country’s investment climate and encourage development of the mining sector, which includes bauxite, iron-ore, gold and graphite.
“Establishing [the facility] for processing permits and licences for integrated mining projects is an important step forward for the reforms launched by the government of Guinea to facilitate the efficient and rapid implementation of mining projects . . . ”, Guinea Minister of Mines and Geology Abdoulaye Magassouba said in a press statement earlier this month.
The new facility should significantly reduce the time needed to acquire licences, permits and other approvals for activities such as environmental assessments, as well as road and railway construction.
Caseworkers at the facility will work with mining operators and government bodies, while a dedicated website, launched in conjunction with the One-Stop Shop, provides instant access for users regarding information on licences and other relevant documentation.
The World Bank Group is also helping the country to introduce business reforms that will strengthen the licence process to increase efficiency, effectiveness, transparency and predictability when dealing with investors and operators.
The next phase will also simplify and expedite the licensing process and procedures to ensure that the computerised open-source software is client-friendly. These reforms will boost economic growth by directly benefiting the small and medium-sized businesses that create jobs and provide innovation.
World Bank country manager for Guinea Rashidi Radji said the group is pleased to be part of government’s efforts to lift the binding constraints to private-sector-led economic growth in Guinea.
“The One-Stop Shop is a decisive step towards attaining Guinea’s goal to improve its business environment and will help mining operators save time and money, which will support economic growth.”