Business and Investment sidenote

Both citizenry and the media focus on the past conflict, poverty and the behaviour of politicians and the governmental machinery in the handling of debt, aid, poverty and service of infrastructural assets influenced the way Sierra Leone is discussed externally, reinforcing perceptions of a country of numerous problems affecting investor’s confidence doing business in the country.

Sierra Leone was and still appears to be seen as a risky country with little understanding of its diversity and internal dynamics to do business. The Income Electric (energy provider from Nigeria) saga with the government has buttressed this view in many minds which must not be taken lightly or brushed under the political carpet. Image or character of a country is dented and affected more so by perceptions garner from a single event which can take a long time to control, repair or recover from.

If you are branded a thief or corrupt will be a stigma making it very difficult to find genuine partners anywhere both local and international to work with period. But despite the presence of these obvious problems, the country deserves to be seen as a country of opportunities. Business leaders, and mostly investors in and out of Africa, feel this growing sense of confidence in the future of Sierra Leone, but playing the wait and see strategy in the unfolding scenarios pertaining to the new government’s ability and capacity to handle situations both seen and unforeseen is the main issue at present. As the saying goes, all hands on deck! Yes but what part of the deck?

Business has a crucial educator role within every community and society as well as more broadly to challenge misconceptions about business investment in Africa through stories that convey the diversity and opportunities of the continent. Trade and business has the potential to be a powerful engine for Sierra Leone’s development. So a failure to be more dynamic in approach, develop a home grown business and trade blueprint using vibrant, experienced and rhetoric individuals with proven capacity would be foolish, unacceptable and suicidal to the success of any government generally. Businessmen investing across the continent recognise the importance of a successful and ambitious outcome to local trade economy, for Africa and its people, and for business.

Government as an urgent priority has to reinvigorate its efforts to achieve a positive solution to its economic blueprint by empowering local indigenous businessmen and businesses where ever they maybe and not relying on outside players or investments. According to the World Bank in 2006 2/3 of African countries made at least one reform, and Tanzania and Ghana rank among the top 10 reformers. While Africa in the last two years was the slowest reforming region in the world, this year it is the third fastest, after Eastern Europe and the OECD high-income countries. South Africa and Mauritius are among the world’s top 30 places in terms of ease of doing business. (more…)

When it comes to economies in Asia, the name Singapore isn’t far behind. In fact the city-state of Singapore is rated as one of the best in the region alongside that of China and Japan. But the development of the city-state into what it is now was littered with obstacles and hardship as well. History reveals the city-state became a self-governing state within the British Empire in 1959. The country separated from British control in 1963 and joined the Federation of Malaysia. But the presence of Singapore in the Federation was short-lived as the country once again left Malaysia and cited ideological differences. By 1965, the city has officially gained its sovereignty. It was the start of the march to progress for the city-state.
During that time, the city tried to become self-sufficient and at the same time faced a number of problems and issues like unemployment, housing shortages and of course the lack of available land for the people and for business and trade. But the difficulties faced by the country were short-lived as the country implemented a number of steps. These policies and government actions have made Singapore the respected economy of today. The Singapore of today is considered as one of the strongest economies in Asia and one of the centers of trade as well. Being a center of trade, it can be expected that this kind of set-up and development have given rise to business opportunities in Singapore that people from the state and from the rest of the world can take advantage.
A quick check on the economy and the industry of the city-state will reveal that the economy of the country relies on exports refining imported goods and in manufacturing. It is in manufacturing that the country has pushed much of its attention. In fact based on records, the manufacturing sector contributed 26 percent to the country’s GDP in 2005. So for the person who might want to do business in the country, then one Singapore business opportunity is in manufacturing. Singapore trade is diverse as well, since a number of companies are involved in varying fields like electronics, petroleum refining, chemicals, engineering and also bio-medical sciences manufacturing.
By the year 2006 the state produced about ten percent of the world’s supply of the foundry wafer output. And perhaps as a testament as to how the state is seen in terms of trading and business transactions, state was rated as the busiest port when it comes to the amount of tonnage shipped. These facts all help make the state what it is now and the reasons why a number of businesses set up shops in the state.
The state is now as well one of the preferred destinations of people looking for work or for people simply looking for fun and entertainment. If you are one of those who are into business and may want to diversify, then a Singapore investment will do. You can never go wrong with a state that is highly rated by businessmen and analysts.

Why seek business opportunities in China? There are a number of reasons why people should stop and take notice. Based on records that are available the Peoples Republic of China is considered as the second largest economy in the world after the United State.

The estimated gross domestic product of China amounted to $7 trillion if this is measured by using the purchasing power parity. Now being the second largest economy in the world may have its pros and cons, but certainly the number of pros far outweighs the cons.

If the economy of China is so huge then one thing that can be deduced from it is the fact that a number of opportunities can be taken here. And the only way to get it is to know where it is and in what industry or sector. Now the country is blessed with rich natural resources and a number of industries are seen in the country right now that help it grow in leaps and bounds.

But the two most important sector of the economy is agriculture and industry. These two are the traditional source of income and employment for the majority of the Chinese population. These two sectors of the economy employ more than 70 percent of the labor force of the country. The income that was sourced from these two sectors accounted to more than sixty percent of the country’s GDP. These two sectors differ in many ways and are often seen as the ones that push the dichotomy between the rich and the poor. Even though it may happen, the participation of these two sectors have succeeded in employing majority of the people in the country and helped other people from other countries gain employment as well.

Aside from these two booming sectors, the steps taken by the government and its future plans help ensure that the business climate in the country will be suited to those who are seeking employment and to those who may want to do business in China. Business opportunity did come in many forms when these government initiatives were put in place. One of the major steps done that made the country competitive and friendly to business entities is when the country was opened up in 1979. The moment the opening up of the economy was made official; the economy of the country has grown to record levels and has become steady ever since. To facilitate growth in the country and to encourage more business opportunities, the government adopted the five year strategy for economic development and the more recent 11th Five Year Plan.

Steps like these that are made by the government have enabled the country to be more competitive and in the process making a China trade one of the most sought after trade out there. It is expected that the economy of the country will still grow and will continue to be the biggest in Asia. So for the businessman on the look-out for opportunities, certainly a China investment is part of the plan. Doing trade with a large economy like this country has its many benefits for sure.