Economic policy in 2011-12 will be driven by the goal of transforming Gabon into an "emerging" economy able to compete globally for foreign direct investment. Achieving this ambitious target will depend largely on the progress of efforts to accelerate economic growth. To this end, the government will hasten investment and try to diversify the economy into more value-added activities in order to reduce its oil dependency, building on policies such as the ban on unprocessed timber exports. The country is seeking to overtake Nigeria as Africa's largest palm oil producer within a decade. However, oil will remain the economy's primary pillar, although the creation of a new state oil firm, Gabon Oil Company, to increase its share of sector revenue and its control of logistics and infrastructure, has stalled. Addressing concerns about strong labour unions is still a key challenge to encouraging new investment. A similar entity is planned for mining projects. Fighting corruption and waste is another priority, building on the public-sector purge of "ghost" workers and increasing scrutiny of state spending. In recognition of reform progress, Gabon has been declared "close to compliance" with the Extractive Industries Transparency Initiative. A new deal to restart the Bélinga iron ore project is expected.