Cape Verde invest
Cabo Verde TradeInvest (CVTI)
Cabo Verde is focused on attracting both local and foreign investments to support its economic recovery and growth, particularly after the impacts of the COVID-19 pandemic. The government has outlined its goals through the Ambition 2030 strategy, which emphasizes sustainable tourism, renewable energy, logistics, and other sectors. It aims to create a fair market environment where all investors, regardless of nationality, have equal rights and responsibilities. There are plans to privatize several state-owned enterprises by 2026.
In 2022, Cabo Verde saw a significant increase in foreign direct investment (FDI), reaching nearly USD 134 million, primarily in the tourism sector. The government offers incentives, such as tax benefits and permanent residency for significant investments (over USD 2 million).
The Cabo Verde TradeInvest (CVTI) agency serves as a comprehensive resource for investors, providing support from initial inquiries to project approval. They assist with obtaining permits, information on trade benefits, and other services necessary for setting up businesses.
While Cabo Verde encourages foreign investment, there are specific requirements in certain sectors. For example, in fisheries, foreign investments must have at least a 51% local partnership, and in interisland transport, a 25% local partnership is required. The Investment Law guarantees the protection of private property and establishes a process for reviewing and approving foreign investments.
To further facilitate investment, the government has implemented measures to streamline project approvals, reduce tax burdens for new businesses, and ensure timely payments to companies. Registering a business in Cabo Verde is straightforward and can be completed quickly through the Commercial Registry Department.
Introduction to the Chambers of Commerce in Cabo Verde
The Chambers of Commerce in Cabo Verde play a vital role in fostering economic development and enhancing trade relations both locally and internationally. Their primary mission is to cultivate connections that facilitate external trade while promoting the national sector and businesses. This support is essential for the growth of various industries and services, helping to create a robust economic environment in the archipelago.
Cabo Verde boasts two main chambers of commerce, each dedicated to specific regions and industries:
Câmara de Comércio, Indústria e Serviços de Sotavento
- Contact Information:
- Address: Avenida OUA nº 39, Achada de Santo António, Praia – Ilha de Santiago – Cabo Verde
- Phone: (+238) 261 5352
- Fax: (+238) 981 7273
Câmara de Comércio, Indústria, Agricultura e Serviços de Barlavento
- Contact Information:
- Address: Alto Mira-Mar, Mindelo, São Vicente
- Phone: (+238) 232 8289
These chambers are instrumental in connecting businesses and fostering growth, making them valuable resources for entrepreneurs and entities looking to engage in trade within Cabo Verde and beyond.
Cabo Verde Investimentos
A CI – Cabo Verde Investimentos é uma agência especializada na promoção de investimentos e da exportação, de direito público, e cujo objeto são a promoção de condições propícias à realização de projetos de investimento nacional e estrangeira.
Contacto: Morada: Rotunda da Cruz do Papa, N.º5, C.P. 89 C – ASA, Praia, Cabo Verde Tel. (+238) 260 41 10 / (+238) 260 41 11 Fax (+238) 262 26 57 E-mail: info@cvinvest.cv
Governamental Strategic Plans
Zonas de Desenvolvimento Turístico Integrado (ZDTI)
Zonas de Desenvolvimento Turístico Integrado (ZDTI) in Cape Verde refers to integrated tourism development zones aimed at promoting sustainable and organized tourism in the country. These zones are strategically developed to enhance various aspects of tourism, including infrastructure, services, and attractions.
The concept of ZDTI focuses on creating environments that support both the economic growth of the region and the preservation of the local culture and environment. Typically, these zones are designed to cluster amenities like accommodations, restaurants, and entertainment options while ensuring that tourism development aligns with the community's needs and heritage.
Cape Verde, with its picturesque landscapes and rich cultural heritage, has been leveraging initiatives like ZDTI to attract more visitors while fostering sustainable tourism practices. By concentrating resources in these zones, Cape Verde aims to boost economic opportunities for local communities and enhance the overall travel experience for visitors.
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Cape Verde Trade Manual
The primary objective of the Trade Manual is to consolidate all relevant information into a single tool that enhances external trade activities while ensuring procedural security at all times