The announcement was made by the Minister of Economy, Soares Sambu, during the opening of the first national conference on the formalization and development of businesses in Guinea-Bissau, which is taking place at a hotel in Bissau until Wednesday.
For the Guinean minister, the meeting “constitutes a historic milestone in the strengthening of the business fabric,” clearly reflecting the strategic vision of the Guinean President, Umaro Sissoco Embaló, “in efforts to build a stronger, more inclusive, and dynamic economy” in Guinea-Bissau.
“The formalization of businesses surpasses the merely administrative dimension. It represents an essential pillar for the economic transformation of the country by encouraging the creation of businesses,” noted Soares Sambu.
Announced as a “historic measure,” starting today, the cost of establishing limited liability companies is set at 180,000 CFA francs (approximately 270 euros), representing a 50% reduction, stated the minister.
“All citizens who have established businesses since January of this year can visit the Business Formalization Center to request reimbursement of 50% of the amount paid,” added Soares Sambu.
The minister also announced that the acquisition cost of the Entrepreneur Card has been reduced by 80% starting today.
“This conference is more than a technical meeting; it is the unequivocal affirmation of the Government’s commitment to small businesses, women entrepreneurs, young innovators, and above all, to the dignification and strengthening of the private sector in Guinea-Bissau,” argued Soares Sambu.
