BANGKOK, June 25 – President Alpha Conde of the Republic of Guinea today invited Thai entrepreneurs to invest in industry and agro industry in Guinea, which is rich in natural resources and has potential for development.
The president is visiting Thailand from June 24 to 26 to foster bilateral relations between the two countries.
He said about 70 per cent of food and agro industry, belonging to the military and the private sector but operated poorly, have been nationalised.
Speaking about the potential investment in his country, he said the country has natural resources such as mines, gold, and diamonds. Numerous oil fields have been discovered.
And the country is also ready to cooperate in industry and in geological survey with other countries.
However, energy and public utilities are the country’s shortcomings, although it has potential water resources to be developed to supply hydroelectric energy resources for other West African nations.
Currently, Guinea is capable of generating 100 megawatts of electricity and has cooperated with China in constructing a dam to produce 250 megawatts of power. It also planned to coordinate with Canada in building another dam at the end of this year.
To upgrade its infrastructure, Guinea has a project to develop infrastructure by building 600 kilometres of railway tracks.
The president hoped Guinea and Thailand will cooperate in modern agriculture for sustainability as Thailand has a strength in food production. The bilateral cooperation can cover fisheries and the livestock industry.
Meanwhile, Industry Minister Pongsvas Svasti said Charoen Pokphand Foods Pcl, Thaland’s largest food processor, PTT, the oil conglomerate and Italian-Thai Development, a leading infrastructure contractor are all interested in conducting feasibility studies on investment in Guinea.
Bilateral trade between the two countries was recorded at US$30 million in 2011, an increase of 200 per cent.