Ivory Coast continues to attract FDI amid fears of unrest, confirms Healy Consultants

Press Release (ePRNews.com) - SINGAPORE - Apr 25, 2016 - With a steady average 9% annual growth in the past four years, Ivory Coast is becoming a fast rising economic star in the West African region.

The Government of Ivory Coast has been investing in large infrastructure projects and implementation of reforms to try improve the business environment. This in result has seen the country adopt a new investment code through its investment agency dubbed the Centre for the Promotion of Investment in Ivory Coast (CEPICI).

Speaking at a recent CEPICI meeting, the agency’s general manager Esmel Emmanuel Essis stated that the previous year saw FDI inflow of at least 70% of the total investment in Ivory Coast and that fears of political unrest are speculative and baseless.

“Some were saying there would be no investment in Ivory Coast in 2015 during the presidential election period. Investors get worried, but it’s our role to show them that hope exists. The president proved that the elections were free, fair and peaceful,” said Esmel.

Also speaking at the same event, Alain Feler, the representative of the IMF in Ivory Coast stated that the country’s economic recovery has been due to the current sense of calmness after years of instability and uncertainty.

“When you are down, and you come up, it gives you an element of rebound – a good environment also helps. If you have good policies to take advantage of it, it adds to that performance,” said Alain.

“It’s important to take good advantage of environment, but also prepare for volatility, tougher times in the future. There is a great potential, but the challenge also to be able to make it sustainable for a long time, and this is what will actually make a transformation for Côte d’Ivoire,” he concluded.

Among the foreign investors looking to invest in the country include the European Investment Bank (EIB) which will be injecting at least 118 million euros into an electric project in the country called ENERGOS that seeks to supply three Ivorian cities with electricity.

Last month also saw an inauguration of a 20,000 square meter commercial centre in Abidjan that has attracted some of the first African stores of the French retailer Carrefour as well as the American fast food chain Burger King.

Healy Consultants is a professional corporate services provider headquartered in Singapore and with a presence in Ivory Coast since the year 2003. The company aides global entrepreneurs looking to establish their international businesses in different sectors of the economy with, among others, company registration, tax and vat registration, assistance with obtaining business licenses and official business addresses, opening a corporate and merchant bank account and obtaining work or residence visas.

Source : Healy Consultants

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