Congo Republic's President Sassou promises to improve business climate as he starts new term

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Congo Republic's President Denis Sassou Nguesso pledged to reform and simplify business and tax laws to help boost economic growth as he was sworn in on Friday, prolonging his 38-year reign over the central African oil producer.

Known as "emperor" by some of his African peers, 77-year-old Sassou was re-elected with more than 88% of the vote in a March 21 presidential election.He came to power in 1979, ruling until he lost Congo's first multi-party elections in 1992 before returning to office in 1997 after a civil war.

But the country could face more headwinds after Australia's Sundance Resources said last month it had referred a dispute with Congo to arbitration in London, where it is seeking $8.76 billion in damages after the government revoked its mining license."We need to improve business climate, simplify tax laws and improve commercial laws," Sassou, adding that objective was to improve economic growth rate.

 

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