Best Prospect Industries
Guinea has little manufacturing capability, so most machinery and equipment must be imported into the country. For a country its size, the $1.1 billion worth of products imported in 2007 represents a sizable market, and reflects the considerable needs of the projects currently underway in the mining sector. Taking into consideration the announced multi-billion dollar alumina and iron ore projects, machinery and equipment imports, along with mining support services, should increase dramatically over the next few years, particularly if commodity prices begin to rise.
The sector with most potential is the mining sector. Intensive bauxite, iron ore, and gold mining are the key markets. Additionally, road and railroad construction and other services that support basic infrastructure could present a lucrative target.
There are several opportunities for exporting machinery and equipment to Guinea, particularly in the mining sector. Several mining companies are still in the exploration stages of their contracts and will likely make substantial investments in machinery and construction material in the coming years.