MOSCOW (Pakistan Point News / Sputnik - 19th July, 2023) The Democratic Republic of the Congo (DRC) wants to fortify its national economy by processing natural resources, not just selling them, DRC Ambassador to Russia Ivan Vangu Ngimbi told Sputnik, adding that foreign investors must take into account this fact.
"DRC president is insisting that it is about a full value chain, not only about the (resource) extraction. We want to mine and process, at least partially. We are open to cooperation, including cooperation with Russian companies, but investors have to understand the need to create value added chains within the country," the ambassador said.
Many foreign companies have been only mining resources in the country for more than 60 years, he told Sputnik, adding that the authorities "do not want an economy where people come, take and then go away."
"We have to provide jobs for DRC citizens and produce our own goods," Ngimbi said.
The DRC possesses vast natural reserves of copper, cobalt, zinc, diamonds, rare earth elements and various ores, as well as precious metals, uranium, oil and gas. Besides, more than half of the country's territory is occupied by rain forests. Despite significant natural reserves, Congo is still considered one of the world's least developed countries.
