In the mid of September, the 5th Investment Forum to Africa was held in Brazzaville, capital of Republic of the Congo. The forum was jointly sponsored by Ministry of Finance, China Development Bank, Republic of the Congo and World Bank.
Cai Jibo, YTO deputy party secretary and vice president and Gilbert ONDONGO, government representative of the republic of Congo and Claude Wilfrid ETOKA, ECO-OIL ENERGIE SA Company president reached an agreement on a joint company and the local agricultural assembly plants.
After the signing ceremony, Clemence muamba, prime minister of Republic of the Congo had an interview with Cai Jibo. They made deep exchanges on agricultural assembly plants, agricultural mechanization and agricultural development promotion in Republic of the Congo.
With a population of over 5 million，Republic of the Congo has 12 million hectares cultivated area, but only 5% of it has been utilized. Its extensive farming cannot satisfy its population. In the core position of ECCAS, Republic of the Congo has social stability and lower labor costs. It has a strong radiation capability to neighboring countries. Agricultural assembly plants will expand employment of local people, enhance the manufacturing capacity and improve agricultural mechanization. Its geographical advantages will increase exports to the neighboring countries.
ECO-OIL ENERGIE SA is a palm oil processing plant and it has the biggest palm garden in Republic of the Congo. The company plans to develop 50,000 hectares palm garden. Up to now, it has cultivated more than 5000 hectares and has 3 palm oil plants.
Before back to China, Cai Jibo talked with Ambassador Mafflin about the assembly plants issue in the Chinese embassy in Republic of the Congo. Mafflin strongly supported YTO and hoped YTO to do more to help develop agriculture in Republic of the Congo to improve people’s living standards. Cai Jibo said that YTO will future develop the market in Republic of the Congo to help the country with YTO strength.
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