Invest in Cote D’Ivoire

Les reforms structural and sectoral reforms committed by the Ivorian Governments since the accession to the supreme office of His Excellency Alassane OUATTARA Have Permis to our country to enter the virtuous circle of high-growth economies in the world, and to lay the foundations of our economic emergence with the consequent support of the Private Sector.

The country recorded an average GDP growth rate ofaround 8% from 2012 to 2019, with inflation under control at less than 1%.

For the year 2020, and despite the slowdown in the global economy due to the Covid19 pandemic, the International Monetary Fund (IMF) puts Côte d'Ivoire's GDP growth rate at around1.9%. For the year 2021, this rate is projected by the World Bank at 6.5%: atantof signs that reflect the resilience of our economy.

Business reforms have helped build an inclusive economy that creates wealth and jobs for women and youth. They have had a significant impact on people's living standards, corroborated by national per capita income that has more than doubled, from $1,120 in 2011 to $2,290 in 2019, according to the World Bank. Over the same period, the poverty rate fell from 57% in 2011 to 35% in 2020.

Côte d'Ivoire, by making considerable progress in terms of governance, efficiency of administration and competitiveness of its private sector, has consolidated its position as the economic hub of the West African sub-region.

Indeed, ourcountry, thanks to its strong economic growth, has strengthenedits position as an essential gateway to a market of more than three hundred and fifty (350) million consumers, bringing together all fifteen (15) Member States of the Economic Community of West African States (ECOWAS).

Côte d'Ivoire represents 35% of the WAEMU zone's GDP, 43% of the zone's trade and 60% of its agricultural exports.

It constitutes access to larger markets underthe free trade agreements and customs unions within the framework of ECOWAS, WAEMU, AGOA, Agreements with the European Union, the AfCFTA.

As a sign of the renewed attractiveness of the national economy, the contribution of investments to GDP increased from 8.9% in 2016 to 20.5% in 2019 and the outlook set it at 24% of GDP in 2020.

CEPICI, Single Window for Investment in Côte d'Ivoire, has approved from2013 to 2019,more than 7.9 billion US dollars, representing 20% of the investments of private companies in Côte d'Ivoire.

The current economic and social performance could not beimagined at the end of the long crisis that our country went through from 2000 to 2011. Indeed, since the accession to the supreme magistracy of His Excellency Mr. Alassane OUATTARA in April 2011, the following results have been achieved:

• Peace and security are perfectly restored in Côte d'Ivoire;
• Social cohesion has been strengthened;
• The Economy is revived.

Our country's remarkable economic performance is also the result of reforms aimed at the business climate.

Indeed,since 2013, our pays has embarked on a vast program of reforms to improve the business climate that have earned it remarkableprogress, thus improvingits rank in the Doing Business ranking by 67 places since 2013 from 177th place to 110th in the last Doing Business Report 2020, by appearing in 2014, 2015 and 2017 in the top 10 of the most reformist countries in the world.

Our country has set about implementing quick-impact reform projects through the establishment of One-Stop Shops, Commercial Courts, streamlining processes, reducing delays, costs, etc.).

From 2015, Côte d'Ivoire has been committed to structural and structuring reforms with a digitalized public service offer in a single point, namely the Single Investor Services Portal:  www.225invest.ci.

In addition, the scope of the reform process has broadened to include all issues affecting the competitiveness of the economy.

Under the leadership of the President of the Republic, Côte d'Ivoire aims to consolidate the gains of growth achieved over the previous two five-year periods and to become one of the upper-middle-income countries by 2035.

For theperiod 2021–2025, the ambition to structurally transform the Ivorian economy through industrialization has been reaffirmedin "LA CÔTE D'IVOIRE SOLIDAIRE", the social project of the President of the Republic, HE Alassane OUATTARA.

At the macroeconomic level, the country is targeting an average GDP growth rate of 7.65% over the period 2021 to 2025, with a view to doubling GDP per capita in 2025. The investment rate estimated at 24% of GDP in 2020 is also expected to grow to just over 32% in 2025.

The PND 2021-2025 takes up the vision expressed by the President of the Republic in his social project. It is based on five (05) major pillars essential to the economic and social development of Côte d'Ivoire.

These are:

• The consolidation of security, peace and social cohesion;
• The structural transformation of our economy;
• Strengthening the competitiveness of our regions through a more favourable business environment and economic infrastructure;
• The development of a more efficient and committed administration;
• The man in the heart of Côte d'IvoireSolidarity.

Côte d'Ivoire is:

• Abundant and variedraw materials:
  • Cocoa: 1st producer in the world with more than 2 million tons;
  • Cashew nuts: 1st producer in the world with about 800 thousand tons;
  • Coffee;
  • Cotton;
  • Natural rubber;
  • Palm oil...
• Abioclimatic climate policy favourable to the development of economic activities
• Numerous rivers for fishing, irrigation and river navigation
• Vast tracts of land available for agriculture, construction and infrastructure;
• A subsoil rich in minerals and energy resources (nickel, diamond, gold, bauxite, iron, manganese, crude oil, natural gas ...) ;
• A coastline of more than 520 km favorable to port and tourist activities.

• Young population (median age around 21 years)
• An educated and well-trained workforce
• A steadily growing middle class: 26.4% of the population earns at least US$4 per day (IPSOS study, 2016).

Our country has modern infrastructure necessary for the development of economic activities and the movement of populations throughout the national territory and to neighbouring countries, including:

• A dense road network: 82,000 km with more than 7,000 km of bitumen
• Rail connections with the hinterland countries (1260 km with Burkina Faso)
• 2 deep-water ports (Abidjan & San Pedro) connect IC to the world
• 3 international airports and 6 domestic airports
• More than 2,000 MW of installed capacity, 66% thermal energy and 34% hydropower;
• By 2023: increase installed capacity to 4,000 MW by 67% gas, 7% coal, 18% hydropower and 8% other sources. Côte d'Ivoire exports about 16% of its production to neighboring countries

Indeed, the State's ambition to structurally transform the economy through industrialization implies the development of an efficient industry, transforming agricultural raw materials, mineral resources and livestock products.

The achievement of this ambition brings many investment opportunities in key sectors of the Ivorian economy,including agriculture, agro-industry and manufacturing industries in general, mining, energy, construction, ICT, transport, tourism and hospitality, health, hydraulics.

Indeed in the agro-industrial sector, the average processing rate of agricultural materials of less than 20%, opens the field to massive investments in the construction of units of tcocoa ransformation, cashew nuts,palm oil, rubber, dans fruit productionDried and of juice fruit, which may be disposed of on the local market or for export.

In the case of cocoa, national production is more than 2 million tons and the country's ambition is to achieve a processing rate of 100% in semi-finished products against 35% currently, and 50% in finished products against 5% at the moment.

For cashew nuts, less than 10% of the total national production estimated at 800,000 tons is processed locally, opening the door to the establishment of cashew nuts and cashew processing units.

This desire for industrialization also extends to the miningsector, particularly in the context of mineral processing, where annual national production in 2019 amounted to 30 tons for gold, about 33 tons for bauxite and 1,180,000 tons for manganese, not counting iron, copper and cobalt.

In the industrialsector, many opportunities exist in structuring industries such as automotive, textile industries, chemicals, pharmaceuticals, plastics, consumer products and light manufacturing industries.

The industrialization of the economy requires the establishment of infrastructures and services that can support the development and activity of industrial sectors at the national level.

In terms of infrastructure, Côte d'Ivoire, which intends to continue the development of road infrastructure, wants to attract the investments necessary to harmoniously provide the regions with roads and bridges useful for the movement of people, raw materials and manufactured products from the places of production to the places of distribution or consumption.

At the energy level, although self-sufficient in electricity, Côte d'Ivoire intends to make investments with the aim of increasing the installed capacity from 2000 MW to 4000 MW and meeting the future needs of the industry.

In this sector, opportunities exist in renewable energies where the State of Côte d'Ivoire is looking for investors for the construction and operation of hydroelectric mini-dams,solar and photovoltaic power plants and biomasspower plants.

The exploitation of oil and gas reserves estimated at more than 100 million barrels and 30 billion cubic meters respectively offers real investment opportunities in the exploration, supply of equipment, production, refining, storage, transport and distribution of hydrocarbons.

These resources, including gas, are necessary for the operation of thermal power plants supplying about one third of the national electricity production.

In the health sector, investments are expected in the construction and rehabilitation of health centers with a view to bringing the hospital closer to the population, improving the technical facilities and offering care to the Ivorian population.

The same is true in the transport sector, where the need to offer new mobility solutions to populations in large urban centres is becoming urgent.