Economy

The special economic zones (SEZs) of Guangdong are often referred to as the birthplace of the Chinese economic miracle. These export-oriented havens for foreign investment attracted multinational companies to the country with substantial provision of inexpensive labour and tax holidays. They also created jobs and, through the transfer of technology...

Despite its relatively high GDP per capita, Gabon’s dispersed rural population, difficult terrain and institutional incapacity have all contributed to a glaring infrastructure deficit. Over the past two years, however, the government has poured massive public investment into infrastructure. The results have been encouraging, as evidenced by the...

Faced with stagnating oil reserves, Gabon’s long-term economic growth depends on the successful diversification of the economy. Barring any major new discoveries, Gabon’s oil output is forecast to fall significantly over the course of the next 20 years, exerting pressure on a government that currently depends on oil revenues for 58% of its budget...

Since 1953, when oil was first discovered near Port-Gentil, Gabon’s economy has been dominated by the petroleum industry. According to the BP “Statistical Review of World Energy 2012”, Gabon is the sixth-largest crude oil producer in sub-Saharan Africa and has the region’s fourth-largest proven reserves.

The defining trait of Gabon’s political climate for the past 40 years has been that of stability. While the first decade of independence saw a modicum of unrest and a coup, the country has in general seen little of the turbulence that has plagued other countries in the region.

Straddling the equator along Central Africa’s western coast, Gabon is a former French colony of 1.5m people with a territory covered up to 85% by equatorial rainforest. Following the colonial period (1886-1960), the country’s first president, Léon Mba, ruled Gabon until his death in 1967. He was followed into office by Omar Bongo Ondimba, who...