Cape Verde: New chairman of CVInvest wants more effective ways of attracting investment

5 June 2009

Praia, Cape Verde, 5 June – The new chairman of Cabo Verde Investimentos, Rui Cardoso dos Santos said Wednesday in Praia he intended to make methods of attracting investment to the archipelago more effective, by promoting the country a a “safe and attractive” destination.

Cardoso dos Santos was speaking at the inauguration ceremony of the new Board of Directors of CVINvest, a ceremony that brought an end to the controversial operation of the body that regulates and generates internal and external investment in the country related to the previous board, according to Cape Verdean news agency Inforpress.

According to the new chairman of Cabo Verde Investimentos and former director of the Project for Growth and Competitiveness of the local Economy Ministry it is “vital” to set up a single centre to provide a number of services and support for investors and CVInvest should position itself as the “only intermediary between investors and public bodies.”

The nomination of the new Board of Directors, which includes economist Carlos Rocha and marketing specialist Ailine Barbosa, was announced in May by Cape Verde’s Economy Minister, Fátima Fialho.

The decision was made three months after an alleged incompatibility with Alexandre Fontes, the former chairman, who Fialho said had “failed” in his objectives.

“CVInvest should in future become the only window to attract investments, an objective which was failed,” by the previous board, Fialho noted, declining to give further details. (macauhub)