Generalizes on the best strategy to enter the market, e.g., visiting the country; importance of relationships to finding a good partner; use of agents.
The procedure for starting a business in Guinea is theoretically straightforward. According to Guinean regulations, the process is centralized within the Agency for the Promotion of Private Investment (APIP), the central business registration office. Nonetheless, the Presidency has recently initiated several larger investments directly. Although the government is eager to attract foreign investment and has made efforts to improve the process, Guinea remains a difficult place to invest.
Successful ventures tend to be those that establish strong relationships with potential local partners. It is strongly encouraged that potential investors visit Guinea and establish these connections. Because of poor communications within the country and with the outside world, as well as cultural practice, most business deals are conducted in person. The U.S. Embassy’s Economic/Commercial Section can assist potential investors in making these connections and offers Gold Key and International Partner Search services.