The African economy is becoming robust and energetic and will complement with the world economy as it is turning out to be one of the economic driving forces worldwide, said participants at the ongoing World Economic Forum on Africa held here.
The world major economies are optimistic about African economic growth, which is offering the world huge investment opportunities in the sectors of infrastructure, petroleum and mining, agriculture, power, telecommunications, tourism and finance, said Sultan Ahmed Bin Sulayem, chairman of the Dubai World company of the United Arab Emirates.
Sulayem expects that total investment in the continent's infrastructure facilities will hit 250 billion U.S. dollars in the coming 10 years, as most African countries are putting construction of infrastructures on priority lists. This is a favor to the world economy, he said.
Borge Brende, managing director of the World Economic Forum, expects African economy to rise 5.9 percent this year and will maintain the growth momentum to 2009.
However, risks exist in investment here. Regional conflicts and turmoil cast shadow over the economic prospects. Increasing employment, inflation and widening wealth gap are causing social instability harmful to the sound economic development.
Close cooperation with the newly-rising economies such as China and India is injecting fresh vigor into African economy and expand development scale for it, said Robert Ahomka Lindsay, chief executive officer of Ghana Investment Promotion Center.
The increasing level of regional economic integration, particularly the New Partnership for African Development, is helping the continent to tap advantage of Africa's overall superiorities, which will sharpen competitive edge and ensure sustainable development for the continent, said Jay Naidoo, board chairman of the Development Bank of Southern Africa.
He said that Africa will keep its growth momentum and will become not only driving force pushing forward the world economy, but also energy center or "world factory" in the future.
Source:Xinhua
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