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| Cabo Verde Investimentos | |
|---|---|
| Name | Cabo Verde Investimentos |
| Formed | 2007 |
| Jurisdiction | Cape Verde |
| Headquarters | Praia |
Cabo Verde Investimentos is the national investment promotion agency of Cape Verde established to attract foreign direct investment, support domestic investors, and facilitate economic diversification, particularly in tourism, renewable energy, and fisheries. It operates within the policy framework of the Government of Cape Verde, aligns with national strategies such as the Strategic Plan for Economic Growth and Social Solidarity and engages with multilateral institutions including the World Bank, International Monetary Fund, and African Development Bank to mobilize financing and technical assistance. The agency works with private-sector actors such as the Confederação Cabo-verdiana das Associações Económicas and international firms active in sectors like maritime logistics, hospitality, and renewable energy.
Cabo Verde Investimentos was created in response to policy reforms influenced by consultations with the European Union, United Nations Conference on Trade and Development, and bilateral partners including Portugal and Brazil, following similar models like ProChile and InvestChile. Its formative years involved collaboration with development agencies such as GIZ and USAID and participation in regional forums like the Economic Community of West African States and Community of Portuguese Language Countries. Major milestones include alignment with national initiatives such as the Growth and Poverty Reduction Strategy Paper and project partnerships with entities like the European Investment Bank and Agence Française de Développement.
The agency's mandate covers investment promotion, facilitation, and aftercare, operating to implement policy instruments compatible with directives from the Ministry of Finance (Cape Verde), the Ministry of Tourism (Cape Verde), and regulatory authorities like the Banco de Cabo Verde. Functions include providing information to investors comparable to services offered by Enterprise Ireland and UK Trade & Investment, managing incentive schemes coordinated with the Tax Authority (Cape Verde), and coordinating with international standards bodies such as the Organisation for Economic Co-operation and Development for investment climate reforms. It also liaises with sectoral regulators including the Autoridade Reguladora Multissectorial and ports authority ENAPOR.
Cabo Verde Investimentos is structured with an executive office reporting to ministerial oversight, supported by directorates for promotion, facilitation, and research, analogous to organizational designs in agencies like ProColombia and Singapore Economic Development Board. The agency employs specialists in sectors such as tourism, fisheries, and renewable energy who coordinate with municipal administrations like Praia Municipality and Mindelo Municipality, legal counsel referencing laws such as the Investment Code (Cape Verde), and units for monitoring and evaluation following frameworks used by the International Finance Corporation. Board-level governance often includes representatives from institutions like the Chamber of Commerce of Cape Verde and international partners like UNIDO.
Services provided encompass investor aftercare, site selection assistance, and access to fiscal incentives tied to zones such as free-trade arrangements per agreements with the ECOWAS Trade Liberalisation Scheme and bilateral investment treaties with countries like Portugal and Italy. Programs include promotion campaigns at trade fairs such as World Travel Market and MIPIM and participation in investment missions organized with partners like AICEP Portugal Global and EMBRATUR. The agency administers support for public–private partnerships similar to models used by the African Export–Import Bank and provides matchmaking with private equity vehicles, venture capital funds, and development finance institutions including FMO and Proparco.
Notable initiatives include facilitation of hotel and resort developments on islands such as Santiago, Cape Verde and Sal, Cape Verde, renewable energy projects in collaboration with firms like EDP Renewables and funding from the Green Climate Fund, and port and logistics upgrades involving partners such as DP World and Eni. The agency has brokered partnerships for fisheries value-chain projects linking to markets in Spain, France, and Netherlands and supported capacity-building projects with ILO and FAO. Regional cooperation includes engagement with Regional Integration mechanisms and participation in initiatives driven by the African Union and NEPAD.
Cabo Verde Investimentos reports contributions to job creation, foreign direct investment inflows, and sectoral diversification metrics, comparable to outcomes tracked by the United Nations Conference on Trade and Development and World Investment Report indicators. Its activities correlate with growth in tourism receipts reported by the National Institute of Statistics (Cape Verde) and increased investment projects registered with the Centre for Business Registration and Legal Entities. Performance is assessed through indicators aligned with Sustainable Development Goal 8 and investment climate rankings such as those produced by the World Bank and World Economic Forum.
Governance arrangements encompass oversight by ministerial authorities, board supervision informed by corporate governance principles from organizations like Transparency International and audit processes coordinated with the Court of Auditors (Cape Verde). The agency operates under regulatory frameworks including the Investment Code (Cape Verde) and anti-corruption statutes aligned with conventions such as the United Nations Convention against Corruption, and it engages in transparency initiatives mirroring standards from Open Government Partnership and reporting practices compatible with the Extractive Industries Transparency Initiative for sector-specific projects.
Category:Economy of Cape Verde Category:Investment promotion agencies