Guinea Bissau - Youth and Women Entrepreneurship and SME Development Lusophone Compact Facility Phase 1

To boost SMEs development, the government has established i) the Investment Promotion Agency to also promote foreign direct investment, create conducive business climate, and ease enterprise registration through the “Centre de Formalisation des Entreprises”(CFE),and ii) the Agence Nationale pour l’Entrepreneuriat des Jeunes (ANEJ)under the supervision of the Ministry of Culture, Sport and Youth (MoCSY). The Government also adopted the 2021-2027 strategy for the development of trade and export in Guinea-Bissau. This strategy aims at boosting enterprises production capacities and increase the country volume in trade and export. With the establishment of CFE, it now takes less than 48 hours to register an enterprise in Guinea-Bissau, which is a great improvement compared to one week on average before the creation of the center.