Congress approved a recent bid by the Cherifian Kingdom to build a facility in Gabon. The country's ambassador has sent instructions on how construction will proceed.
According to the Ministry of Investment Promotion, Menasteel, a Moroccan company specialized in metal construction, particularly metal structures, “is in the process of founding a subsidiary and building a factory in Gabon.”
This ministerial department does not provide any additional information about this future plant. However, representatives of the firm stated that Menasteel will operate in Gabon in the structural steel construction sector as well as in the design, research, manufacturing and assembly of metal constructions in the building sector in a meeting with the Moroccan ambassador on last September.
According to the Ministry of Investment Promotion, this allows the creation of new jobs for Gabonese and a diversification of the nation's industrial base. According to Le Nouveau Gabon, Menasteel has already established itself in the industry, particularly in Morocco, where it was awarded a contract in 2020 to provide equipment for the expansion of the new terminal at Rabat airport.
Why would Menasteel think this investment in Gabon is necessary, assuming it is successful and has a solid business plan? What makes Gabon's potential attractive for business? The simple solution is financial incentives from the Gabonese government and elsewhere.