Equatorial Guinea’s prioritization of the creation of decent work for all is intended to address several key challenges facing the economy: reducing unemployment (SDG 8), reducing poverty (SDG 1) and improving people's living conditions (SDG 11) - particularly in urban areas. The government's ambition to promote access to productive, decent and sustainable employment for all men and women is reflected in the Agenda Equatorial Guinea 2035. In addition, the government has committed to diversify the economy and is prioritizing the Blue Economy, services, digitalization and innovation, sustainable tourism and culture, and human capital, including health and education.

Deepening investment in creation of more productive work directly serves as a multiplier for progress in women's empowerment (target 5.5), youth empowerment (target 4.4). When advanced with integrated policy planning, it build resilience to shocks and disasters, particularly for vulnerable groups. Decent job creation also has positive impact on technology and innovation, areas that are critical and require advancement in Equatorial Guinea's priorities around expanded health coverage and attaining affordable energy and water sanitation.  

Over recent years, Equatorial Guinea’s economic growth has been hampered by a shrinking hydrocarbon sector and external and domestic shocks. The economy has been in recession for seven consecutive years. The hydrocarbon sector has declined at an average rate of 7.2 percent per year between 2015 and 2021 amid maturing oil fields and multiple incidents at both gas and oil production sites. Considering the secular decline in hydrocarbon production, policy priorities include changing the current development model to promote economic diversification.

Agenda Equatorial Guinea 2035 sets the commitment for the diversification of the economy by integrating the country into new global value chains. The government is prioritizing the Blue Economy, services, digitalization and innovation, sustainable tourism and culture, and human capital, including health and education. Equatorial Guinea is also seeking to extend incentives to the maritime sector to make it profitable (e.g., ports, tourism, energy, shipping, boat repair).

Acknowledging the increasing importance of services in supporting countries’ diversification efforts, it would be beneficial for Equatorial Guinea to develop new “deep trade agreements" (with respect to the African Continental Free Trade Area and the Economic Community of West African States), including in the broad category of services and digital services (e.g., eservices, ecommerce). Such trade policies involving services could lead to higher labour, overall positive productivity multiplier effects on 7 SDGs (SDGs 1,2 ,6, 7, 8, 11 and 12). Policy design and implementation needs to be cognizant of potential negative impact across water and climate goals. Equatorial Guinea's development priorities include goal 16, which could support the legislative and regulatory foundation for effective safeguards.

The development of infrastructure and its intersection with urbanization remains one of the main levers of Equatorial Guinea's  development progress across other SDGs. The availability and quality of infrastructure, as part of an integrated package of policy choices, can contribute to improving living standards and accelerate Equitorial Guinea's  development process. The equitable distribution of infrastructure across the country will help to reduce spatial inequalities and promote opportunities, particularly for vulnerable groups.

Between now and 2035, the government's ambition (as outlined Agenda Equitorial Guinea 2035)  is to amplify the effects of structural and social transformation by revitalizing the transport services, the sustainable mobility of people and goods; by promoting internal and intra-regional trade and intra-regional trade; and by consolidating the foundations for strong growth and for sustainable development.

Investing in effective low-cost public transportation makes cities more inclusive, safe and sustainable. Effective and low-cost public transportation reduces urban poverty and inequalities and enhances inclusive growth through access to jobs, health care, education services and other public goods when adequately supported by environmental and social safeguards that protect small scale farmers and support a sustainable transition to renewable energy sources (target 7.2)