European Commission for Sustainable Growth and Development’s Director Roberto Ridolfi has said that the creation of jobs was the top priority at the recently held EU-Africa Business Forum. The External investment plan that was formulated at the meeting has three key aspects. The first aspect is to attract overseas investors to invest in diverse sectors resulting in the creation of jobs. The second aspect is to offer assistance in technology to boost the business ambiance into an investor-friendly one.
The Director said that the third aspect focuses on engaging in dialogue at the political level with dimensions of good governance, human rights, and combating corruption. The EU will spend 3.35 billion Euros in Africa over the period of next three years that will be aimed at attracting 44 billion Euros from overseas investors, as quoted by the Euro News.
The key partner of the EU, the African Union has welcomed this threefold approach. The financial guarantees of the EU offer the overseas investors a crucial safeguard against the risk of delicate economies. The EU firms see the prospects of developing a strategy based on long term through this approach of the EU.
President of the French Business Federation Pierre Gattaz said that working with the business fraternity, the small scale, and medium firms is a chief aspect of the investment program that will be developed between the EU and Africa. By investing in the creation of jobs and training of workers it is possible to develop thriving businesses, businesses that last for a long time added Pierre Gattaz. The overseas investment would be diverted not only for job creation but also for transferring technology to developing economies from the developed nations, said Mr. Gattaz.
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