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Le Cap Vert: Gateway de l'Afrique de l'Ouest
Ambassadeur José Brito
Au Forum Francophone des Affaires
Montreal, Canada30 Mai 2003
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Gateway de l’Afrique de L’Ouest
Cap Vert: Un cas de succés en Afrique De l’aide à l’investissement Les moteurs de la croissance Pourquoi investir au Cap Vert? Les Opportunités d’investissements Les premiers pas pour investir au Cap Vert
Plan de la Présentation
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An African success story
• An emerging solid democracy
• Good economic management
• Good economic, social and human indicators
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An African success story Governance Indicators in 2002 (percentile rank 0- 100)
0
10
20
30
40
50
60
70
80
Voice
& A
ccou
ntabilit
y
Politic
al S
tabilit
y
Gov
ernm
ent E
ffect
ivene
ss
Regulat
ory
Quality
Rule o
f Law
Contro
l of C
orru
ptio
n
Cape Verde
Low Middle IncomeCountries
Sub-Saharan Africa
Source: World Bank
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An African success story Ability to Control Corruption in 2002 (percentile rank 0- 100)
Source: World Bank
72.267.5 66
57.753.1
46.442.8
19.114.9
7.2
0
10
20
30
40
50
60
70
80
MAURIT
IUS
SOUTH AFRIC
A
CAPE VERDE
BURKINA F
ASO
SENEGALM
ALI
GHANA
UGANDA
MOZA
MBIQ
UE
ANGOLA
Series1
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An African success story Rule of Law in 2002 (percentile rank 0- 100)
78.4
60.3 59.853.6 52.6
34.5 34 29.921.1
3.1
0102030405060708090
Source: World Bank
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An African success storyPolitical Stability in 2002 (percentile rank 0- 100)
83.274.1
63.8
42.7 42.2 41.6 41.133.5
11.4 9.2
0102030405060708090
Source: World Bank
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An African success story Freedom Index, 2002
0
1
2
3
4
5
6
7
Political Rights
Civil Liberties
Average Rating
Source: Freedom House
1 - 2.5 ~ Free3 - 5.5 ~ Partly Free5.5 - 7 ~ Not Free
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An African success story Human Development Index 2002
00.10.20.30.40.50.60.70.80.9
MAURIT
IUS
CAPE VERDE
SOUTH A
FRICA
GHANA
UGANDA
SENEGAL
ANGOLAM
ALI
BURKINA F
ASO
MOZAM
BIQUE
Source: UNDP
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The basis of success
• Democratic governance
• Generous development assistance
• Remittances of Cape Verdian emigrants
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Where do we go from here?
Development AIDEmigrationRemittances
Business as usual precipitating social and economic decline
Sustained AID & remittances; continued economic growth but no transformation
Significant change and rapid transformation based on exploiting & building our competitive advantage
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Engines of Growth: Building on comparative advantages
and our strengths
Location
Sea
Climate
GoodGovernance
Network strategic Partners
Gateway to Africa and to the World
(6 hours from New York)Marine Resources
Exclusive Economic ZoneEnergy from the Sea
Sun, Sea, MountainsMalaria Free
Renewable Energies
Stability/ PeaceCorruption Free
Sound Management
Diaspora and Market AccessECOWAS/PALOP/ CPLP
Europe/Americas
HumanResources
Diversify & Rich CultureUniversal primary education
Fast learners
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Engines of Growth
Remittances
AIDTourism
Light Industries
e.g. Textiles
SEA
AIR
OffshoreServices
Today Short & Medium Term Long Term
Open Economy Reform
InvestmentCapabilitiesInfrastructures
InvestmentCapabilitiesInfrastructures
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Light Industries
Apparels & TextilesShoes
Tourism
Adventure
Cultural
Conferences
Ecological
Hotel, Water, Energy, Health, Airlines, Airports, Shipping, Inter-Island Ferry, Conference Facilities, Assembly/Manufacturing facilities; Market access (AGOA)
Engines of Growth Short to Medium Term
Health
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Engines of Growth Medium & Long Term
SEA
Shipping/Trans-shipment
Sea FarmingAgriculturee.g. OTEC Technology
Regional FishingProcessing zone
Research/Knowledge Park
Registry
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Regional Fishing Hub• Industry trade council• Transportation• Financial Services (banking, insurance)• Marketing• Packaging• Cooling Systems• Freezing Plants• Value added seafood products - processing
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Engines of Growth Medium & Long Term
AIR
Passenger and Air Cargoi.e. Regional Hub
Duty free shopping zone (Dubai modele)
Hypermarket
Regional services zone for aviation
Data Processing
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Engines of Growth Medium & Long Term
Offshore Services
Banking
InvestmentFunds
Research/Knowledge
Insurance
Company Registration
Cyber City
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REASONS TO INVEST IN CAPE VERDE
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REASONS TO INVEST IN CAPE VERDE
Political, social and economic stability Optimal geographic location:
• Halfway between the Americas and South Africa and Europe.
Access to more than 500 million consumers:• Preferred access of national products in some regions: West Africa
(ECOWAS); Europe (Lome Convention); United States (AGOA, SGP).
• Privileged relationships with African Portuguese speaking countries (Angola, Mozambique..)
A corruption-free country with good governance Existing of One Stop Shop (PROMEX) to serve the investors
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REASONS TO INVEST IN CAPE VERDE
Fiscal Incentives• Tax exemption on dividends during the first 5 years of operation
• Tax exemption on dividends when reinvested
• Tax exemption on amortization and interests
Guaranties to the investors:• Protection of investor’s rights and property
• Free expatriation of dividends and income
• Direct operation of foreign currency accounts
Fiscal, customs, financial and administrative tax incentives to exportation
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INVESTMENT OPPORTUNITIES
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INVESTMENT OPPORTUNITIES
Tourism: Resort Hotels; Executive Hotels; Sport Fishing and Diving; Yacht marinas; Windsurf; Rock-climbing; Golf courses; Leisure spaces with restaurants; Time-sharing complex and “chalets”
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INVESTMENT OPPORTUNITIES
Services: Knowledge Park, Registry of ships, Duty-free zones
Teleport (data processing, telecommunications)
Banking off shore
International shipping
Fishery and Marine Resources (industrial fishing, fish processing, aquaculture, seaweed…)
Cultural Industry (music..)
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INVESTMENT OPPORTUNITIES
Industry: Exported oriented industries (textile and apparel..); assembling industries; Traditional food products for the immigrant communities, Marine salt industry, Ornamental stones industry, Porcelain production, Carpentry/Joiner, packing, furniture etc
Agriculture: floriculture, fruits, decorating plants
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INITIAL INVESTMENT STEPS
1. Contact PROMEX, Center for Tourism, Investment and Promotion. P.O. Box: 89-C, Praia, Republic of Cape Verde Tel: (238) 62 27 36/ 2621/ 2689; Fax: (238) 622657 Email: [email protected] Website: www.promex.org
2. Contact the Embassy of Cape Verde to the U.S.A.: 3415 Massachusetts Ave, NW, Washington, DC, 20007. Tel: (202) 965-6820; Fax: (202) 965-1207 Email: [email protected] Website: www.capeverdeusaembassy.org
3. Visit Cape Verde
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THANK YOU
