Publication: Republic of Congo’s Road to Prosperity: Building Foundations for Economic Diversification
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2023-03-01
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2023-03-01
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This Country Economic Memorandum (CEM) contributes to the Government’s diversification agenda by identifying and advocating key policies and reforms to build the foundations for more “diversified development” in Congo that will support long-term economic growth and prospects for a better life for the Congolese people. The report comprises six chapters. The first chapter discusses Congo’s economic developments during the last 15 years and analyzes in detail the factors that prevented the country from diversifying its assets. Since rising labor productivity is required to boost the growth of Congo’s income per capita, the second chapter analyzes labor productivity using firm level data, a first attempt in Congo. Because removing barriers to competition enhances productivity, the third chapter undertakes a diagnostic of competition practices, including the role of state-owned enterprises (SOEs), and provides a detailed analysis of the electricity and telecommunication competition environments. The fourth chapter explores the extent to which digital transformation and access to reliable electricity services can spur productivity and economic growth. As greater trade integration is a driver of structural transformation, the fifth chapter discusses trade patterns and explores the opportunities for Congo to diversify its exports. The sixth chapter looks over two key trade-related topics, logistics and ecotourism, that have the potential to contribute significantly to export and economic diversification in Congo.
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“World Bank. 2023. Republic of Congo’s Road to Prosperity: Building Foundations for Economic Diversification. Republic of Congo Country Economic Memorandum. © World Bank. http://hdl.handle.net/10986/40677 License: CC BY 3.0 IGO.”
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