Le Cap Vert: Gateway de l'Afrique de l'Ouest

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Le Cap Vert Gateway de l'Afrique de
l'Ouest
Ambassadeur José Brito Au Forum Francophone des
Affaires Montreal, Canada 30 Mai 2003
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Gateway de lAfrique de LOuest
Plan de la Présentation

• Cap Vert Un cas de succés en Afrique
• De laide à linvestissement
• Les moteurs de la croissance
• Pourquoi investir au Cap Vert?
• Les Opportunités dinvestissements
• Les premiers pas pour investir au Cap Vert

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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)
Source World Bank
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An African success story Ability to Control
Corruption in 2002 (percentile rank 0- 100)
Source World Bank
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An African success story Rule of Law in 2002
(percentile rank 0- 100)
Source World Bank
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An African success storyPolitical Stability in
2002 (percentile rank 0- 100)
Source World Bank
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An African success story Freedom Index, 2002
1 - 2.5 Free 3 - 5.5 Partly Free 5.5 - 7
Not Free
Source Freedom House
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An African success story Human Development Index
2002
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?
Significant change and rapid transformation
based on exploiting building our competitive
advantage
Development AID Emigration Remittances
Sustained AID remittances continued economic
growth but no transformation
Business as usual precipitating social and
economic decline
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Engines of Growth Building on comparative
advantages and our strengths
Gateway to Africa and to the World (6 hours from
New York)
Location
Marine Resources Exclusive Economic Zone Energy
from the Sea
Sea
Sun, Sea, Mountains Malaria Free Renewable
Energies
Climate
Stability/ Peace Corruption Free Sound Management
Diaspora and Market Access ECOWAS/PALOP/
CPLP Europe/Americas
Diversify Rich Culture Universal primary
education Fast learners
Good Governance
Network strategic Partners
Human Resources
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Engines of Growth

SEA
Today
Short Medium Term
Long Term
Tourism
AID
AIR

Light Industriese.g. Textiles
Remittances
OffshoreServices
Open Economy Reform
Investment Capabilities Infrastructures
Investment Capabilities Infrastructures
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Engines of Growth Short to Medium Term
Adventure
Light Industries
Tourism
Cultural
Apparels Textiles Shoes
Ecological
Conferences
Health
Hotel, Water, Energy, Health, Airlines, Airports,
Shipping, Inter-Island Ferry, Conference
Facilities, Assembly/Manufacturing facilities
Market access (AGOA)
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Engines of Growth Medium Long Term
Registry
Shipping/ Trans-shipment
Research/ Knowledge Park
SEA
Sea Farming Agriculture e.g. OTEC Technology
Regional Fishing Processing zone
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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
Passenger and Air Cargo i.e. Regional Hub
Regional services zone for aviation
AIR
Data Processing
Duty free shopping zone (Dubai
modele) Hypermarket
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Engines of Growth Medium Long Term
Insurance
Banking
Offshore Services
Research/ Knowledge
Company Registration
Cyber City
Investment Funds
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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 investors 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 [phone]/ 2689
Fax [phone] Email promex_at_cvtelecom.cv
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 [phone] Email
ambacvus_at_sysnet.net Website www.capeverdeusaemba
ssy.org 3. Visit Cape Verde
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THANK YOU