This archive report was first published on 27 August 2021.
On August 27, 2021, the Democratic Republic of the Congo unveiled a comprehensive plan to re-industrialize the country, with a massive $58 billion investment.
The ambitious project, announced by Industry Minister Julien Paluku, aims to transform six industrial zones into export hubs for neighboring countries by 2040.
The plan involves the construction of new railways, ports, and other infrastructure to connect the six pillar regions of the vast country.
With only 507 registered industrial entities, the country inherited a mere 9,600 industrial units from colonial ruler Belgium at independence in 1960.
The government seeks to roughly double the number of industrial production units in the next five years, reducing the annual bill for imports by 60% as more goods are made at home.
Paluku stated that the government is seeking $58 billion (49 billion euros) for investment, with $21 billion allocated for rail, $22 billion for energy, and $6.3 billion for airports and ports.
The government plans to host an investor conference to seek funding commitments and ride on the African Continental Free Trade Area and the opening up of the Chinese market to African countries.
