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Get to Know About Sao Tome and Principe
Sao Tome and Principe is an island country in the Gulf of Guinea in Central Africa. There are two main islands, namely Sao Tome and Principe, which, with their archipelagos, cover a total land area of 1,001 square kilometers. The country is home to an estimated 200,000 people.
Sao Tome is one of the most politically stable countries in Africa. Classified as a lower-middle-income country, the GDP (PPP) is $685 million, and the per capita income is around $3,220. Agriculture is the primary industry in the nation; however, it does more imports than exports. Additionally, even though not a major tourist destination, Sao Tome and Principe still makes a significant profit from the sector and has unexplored opportunities.
As of now, the island of Sao Tome and Principe is very much dependent on foreign aids. This might not sound very pleasing to those looking forward to doing business in Sao Tome and Principe, however, the country is developing. Even if it has a fragile economy, there is not a lot of competition, and so, you can turn a simple idea into gold.
There are many challenges for doing business in Sao Tome and Principe. Some of them are high tax rates, lack of incentives, and government efforts to bring the best out of FDI. Well, as you can see, they are major issues. The infrastructures are not very high class, and some might complain about the lack of a skilled workforce.