Revisiting the Chinese contract in the DRC: new hope for a balanced partnership
By Siméon Isako
In the search for a balanced partnership, the Democratic Republic of Congo (DRC) has undertaken to revisit the contract with Chinese companies. President Félix Tshisekedi underlined the importance of this approach during his economic assessment. He particularly praised the work of the Inspector General of Finance, Jules Alingete, in the fight against corruption and the search for a “win-win” partnership.
According to the findings of the General Inspectorate of Finance, since the conclusion of the agreement with China, Chinese companies have generated nearly 10 billion dollars in profits, while the DRC has only made less than 1 billion. It is therefore obvious that this unbalanced partnership requires revision.
During a recent visit to China, President Tshisekedi expressed satisfaction with the receptivity of Chinese partners. The latter recognized that the DRC was right to want to rebalance the terms of the contract. They also agreed to take into consideration the interests of the DRC and find mutually beneficial common ground.
Jules Alingete, as head of the General Inspectorate of Finance, played a key role in revisiting the Chinese contract. He was uncompromising in the face of pressure from the Chinese side and denounced the imbalance in the initial contract.
Indeed, according to the report of the General Inspectorate of Finance, the DRC has granted significant tax exemptions to Chinese companies, which have already made more than $10 billion in profits. On the other hand, the investments in infrastructure planned by the contract were largely insufficient.
Among the planned infrastructure were the construction of 3,000 km of railways, 31 hospitals with 150 beds and 145 health centers. So far, only projects worth $822 million have been completed, often overcharged according to the IGF.
The revisitation of the Chinese contract therefore aims to remedy this unfair situation and find a new, more balanced partnership model. The DRC wishes to take full advantage of its natural resources and its investments, while offering attractive conditions to foreign partners.
This approach to revising the Chinese contract is an important step towards building a win-win relationship between the DRC and China. It demonstrates the Congolese government’s desire to protect the country’s interests and work for equitable economic development.
The road to a balanced partnership will not be easy, but with leaders such as Félix Tshisekedi and Jules Alingete, the DRC is determined to assert its rights and build a more promising future for the country and its citizens..
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