Congo Signs Five Economic Memorandums with U.S. Companies

The Democratic Republic of Congo signed five memorandums of understanding with American companies and Congolese diaspora enterprises on September 22, in the margins of the 80th United Nations General Assembly, Commerce Minister Julien Paluku announced.
“We know that the United States, as a leading partner, is engaged in a major project around the Lobito corridor. But beyond this flagship initiative, several other efforts are underway: digitization, aviation, professional training, and organizing labor markets through cooperatives,” M. Paluku told Radio Okapi.

Diaspora companies, organized under the Forum of Congolese Intellectuals Abroad (FICE), are active in sectors including aerospace, financial inclusion, natural gas, business consulting, and economic education.
These memorandums express the parties’ intention to collaborate in specific areas, but they are not yet binding agreements that commit the U.S. companies.

“Signing Multiple Protocols”
“We also engaged with American researchers, both Congolese-born and American, who have begun sharing their reflections and concerns with us,” Paluku said. “These discussions have already led to the signing of several data protocols, which will pave the way toward what is rightly called the future of artificial intelligence.”

The minister assured the companies of support from the Congolese government and improvements in the country’s business climate, citing incentives under the investment code and special economic zones.
“We see growing interest from American researchers in the D.R.C. This underscores that we are at the heart of the energy transition, at a moment when the country is attracting global attention thanks to its strategic minerals,” he added.
M&B