Local investor bets on Guinea-Bissau

Macau businessman John Lo will be investing in building a 4-star hotel on the main avenue of Guinea-Bissau’s capital, Bissau, as part of the framework of an investment plan he’s developing for the African country, he revealed.  In an interview with a Guinea Bissau news agency, John Lo announced that the construction of the hotel is due to kick off next year.  He did not disclose the number of rooms that will be available in his new property, but said that it will provide employment for at least 150 Guinea-Bissau citizens. It will have two restaurants, one of which will serve Chinese food.  According to Lo, the budget for the hotel construction is likely to reach EUR30 million.  The businessman, who has also served as the honorary consul of Guinea-Bissau in Macau since 2000, also pledged to send about 200 computers for the Guinea-Bissau parliament, following a request made by its president Cipriano Cassamá.  Lo said that he hopes Guinea Bissau’s political environment remains peaceful, so that Chinese entrepreneurs feel comfortable investing in the country, mainly in the fishing and woodturning export sectors, among others.