What are the barriers to market entry in Guinea?

Learn about barriers to market entry and local requirements, i.e., things to be aware of when entering the market for this country.Government bureaucracy and pervasive corruption severely hamper economic development in Guinea.

How does corruption affect economic development in Guinea?

Government bureaucracy and pervasive corruptionseverely hamper economic development in Guinea. Transparency International’s 2021 Corruption Perception Index ranked Guinea 150 out of 180 countries, down 13 places from 2020. Guinea also faces inadequate infrastructure, an inefficient bureaucracy, a lack of skilled workers, and political uncertainty.

What is the infrastructure like in Guinea?

In the interior of the country, access to electricity and treated water is largely unavailable. Transportation infrastructure, including roads, railroads, and the port system, isunevenly developed throughout the country, though the government of Guinea has targeted infrastructure improvement as a high priority for the coming years.

What is the first annual edition of the Guinea economic update?

The First Annual Edition of the Guinea Economic Update: Natural Resource Management for Development presents an overview of Guinea’s evolving macroeconomic position, recent economic developments, macroeconomic outlook, and risks. It highlights the importance of agriculture for structural transformation and climate-proofing Guinea’s economy.

What is the economic outlook for Guinea?

Despite a history of fiscal mismanagement, the long-term economic prognosis for Guinea remains promising, buoyed by strong endowments of natural resources, energy opportunities, arable land, and ample, reliable rainfall. Constrained by an austere budget, Guinea has increasingly looked to foreign investment to stimulate growth.

Can Guinea increase domestic resource mobilization?

Guinea has potential to increase domestic resource mobilization through reforms to enhance tax revenue share, particularly from large companies, including mining. The Guinea Economic Update presents an overview of Guinea’s evolving macroeconomic position, recent economic developments, macroeconomic outlook, and risks.