Foreign investment projects in Cape Verde approved or rejected in 45 days

7 October 2013

The Cape Verdean government, as of January of next year, will offer a One-Stop Office to approve foreign direct investment (FDI) projects and decision will be made within a maximum of 45 days, the chairman of Cabo Verde Investimentos said in Boston.

José Duarte, who was taking part in a meeting of American and Cape Verdean businesspeople, said that Cape Verde had “lost a lot of money and it is unacceptable that it takes months, or even years, to approve an investment project.”

Cited by Rádio de Cabo Verde, Duarte said that, as foreign businesspeople consider this to be the main obstacle to investing in the archipelago, the government had decided to overcome it by implementing the One-Stop Office in January 2014.

“Foreign direct investment projects will receive a decision within a maximum of 45 days,” said Duarte.

The chairman of Cabo Verde Investimentos noted that the One-Stop Office would not have physical facilities, but would be a virtual platform that made it possible to analyse the projects in record time. (macauhub)