Business Opportunities in Cote D?ivoire

Côte d?Ivoire is among the top fastest growing economies in the world and one of the most dynamic in West Africa. This positive outlook is underpinned by an improved political environment and stable inflation. The Government has worked hard to improve Côte d?Ivoire?s investment climate and build economic infrastructure to allow business to thrive. The country welcomes foreign investment and hopes to attract more than $13 billion in private sector investments through public-private partnerships to achieve its 2012-2015 National Development Plan. Côte d?Ivoire has been a business and transportation hub for the entire West African region since the early 1960s. After the end of the political crisis in 2011, Côte d?Ivoire?s economy has rebounded sharply, posting 9.8% GDP growth in 2012 and 9 percent in 2013. Robust growth is expected to continue, with forecasts of 8.2% GDP in 2014 and 7.7% GDP in 2015. The government has implemented measures to strengthen transparency, improve governance, and attract businesses. In 2012, the government created an investment agency, the Centre de Promotion des Investissements en Côte d?Ivoire (CEPICI). It created a new commercial court to help ensure impartiality and accelerate dispute resolution. The government liberalized the investment code and enacted mining and telecommunication codes to improve the operational environment for businesses in those sectors. Côte d?Ivoire?s mining potential is significant, with untapped resources, including gold, copper, iron ore, manganese, bauxite, and diamonds. In April 2014, the United Nations Security Council lifted the diamond export ban that had been in place since 2005. Recent oil discoveries have been made in the Gulf of Guinea, and major projects are underway to boost the country?s hydroelectric and thermal power capacity. Numerous business opportunities exist in agribusiness, especially in value-added production of cocoa, cashews, rubber, cotton, palm oil and rice. Other opportunities exist in the sale of construction equipment and machinery; power generation; oil, gas and mining exploration; and infrastructure development. Côte d?Ivoire is a beneficiary country under the African Growth and Opportunity Act (AGOA).