Key Competitive Attractions
Cape Verde is one of only two African countries to have made the transition from least developed to average development country according to UN definitions.
The economy is based predominantly on services. However, the government has identified the development of tourism, light manufacturing and fisheries as top priorities. An open welcome policy to foreign investors and far-reaching privatisation programmes have been pursued since 1991.
Fish and shellfish, mostly lobster and tuna, are plentiful, and the country has cold storage and freezing facilities and fish processing plants. However, the fishing potential is not fully exploited. The archipelago is located at the crossroads of mid-Atlantic air and sea lanes. International port facilities exist in Mindelo and Praia and there is an international airport in Praia.
The main industries are food and beverages, fish processing, shoes and garments, salt mining and ship repair. The Cape Verdean escudo is linked to the euro.
Assistance and Support For New Business Investors
PROMEX, the Centre for Export and Investment Promotion, provides general information on the investment climate, the legal and administrative procedures for investment, and market research. The centre also conducts targeted sector-specific investment missions, offers investment counselling services and facilitates contacts between foreign investors and potential joint venture partners.
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