President Felix Tshisekedi oversees the signing of 7 memoranda of understanding between DRC and the United Arab Emirates


Kinshasa, October 14th, 2021 (CPA) – The President of the Republic, Felix Antoine Tshisekedi, supervised, on Tuesday, the signing of 7 memoranda of understanding during a bilateral meeting, organized at the presidential pavilion of the expo 2020 in Dubai, between his delegation and that of the Emiratis led by His Highness the Sovereign of Dubai, vice-president of the federation of the United Arab Emirates, Sheikh Mohammed ben Rachid Al Maktoum.

These memoranda of understanding relate in particular to non Double Taxation, customs cooperation, investment protection and the creation of a joint DRC – United Arab Emirates Commission.

An agreement between the company Emaar and the Congolese ministries of Town Planning and Housing and that of Land Affairs was also signed by the sector ministers.

The Emirati company Masdar and the Congolese Ministry in charge of Water Resources as well as the Chamber of Commerce of the United Arab Emirates and the Federation of Enterprises of Congo (FEC) have signed memoranda of understanding.

The 7 protocols come in addition to UAE’s commitment of USD 1 billion of investments in DRC announced on Sunday by the Crown Prince of Abu Dhabi, Mohamed Ben Zayed Al-Nahyane at the end of their exchanges, in Dubai, with President Felix Antoine Tshisekedi Tshilombo.

This promised envelope is immediately available and should be invested in particular in the mining sector, according to the crown prince of Abu Dhabi.

During their meeting, the Emirati leader and President Tshisekedi reviewed investment opportunities in DRC. The choice is very wide, between infrastructure, mines, energy, health or even security and defense.

Deputy Commander-in-Chief of the Armed Forces, the Crown Prince of Abu Dhabi also announced a donation of 30 tactical armored military vehicles, intended to support DRC in the fight against terrorism, particularly in the east. With this donation of military equipment, Felix Tshisekedi hopes to end the security crisis in the eastern provinces, while accelerating his development projects.

However, it relies on several bilateral and multilateral partners such as the United Arab Emirates, the United States and the International Monetary Fund.

Kinshasa has recently benefited from budget support from the International Monetary Fund (IMF) amounting to USD 1.5 billion.