Investments by Macau businessman in Cabo Verde due to be presented by the end of the month

21 May 2014

The first version of the tourism project for the islet of Santa Maria, near the island of Santiago, promoted by Macau businessman David Chow and estimated to cost US$200 million, will be presented this month, according to Cape Verdean weekly newspaper A Semana.

The investment, which accounts for around 15 percent of Cabo Verde’s (Cape Verde’s) gross domestic product (GDP), is expected to begin this year.

This version includes a hotel, an international convention centre, a spa, marina and renewal of the entire coastline of Gamboa.

The newspaper cited Cabo Verde’s ambassador to China, Júlio Morais, confirming that China planned to make other investments in the maritime, air and information technology sectors, and a request for funding of the second phase of the technological centre project has already been signed.

China is also involved in modernising Cape Verdean company Cabnave and the container terminal, and Morais said that, every month, new Chinese companies were arriving in Cabo Verde. (macauhub/CV/MO)