Madeira and Angola partner Cape Verde for an International Business Centre

17 November 2014

The Portuguese island of Madeira and Angola will be part of the management company of the International Business Centre (CIN) that the government of Cabo Verde (Cape Verde) is building on the island of São Vicente, said José Duarte, president of Cabo Verde Investimentos (CV Invest).

Duarte said CIN was expected to be operating in early 2015, and would be “an important tool for economic diversification” that will also allow for diversification of demand and attract investors to the duty free zones in Sao Vicente.

CIN, he added, will be installed in Mindelo, capital of the island of São Vicente, as some “setbacks” have been overcome, the main one being reaching agreement with the Management Company of Lazareto, on the outskirts of the city, where there was a large industrial park according to Cape Verdean weekly newspaper A Semana.

“The Municipality of São Vicente, the chambers of commerce and the state itself reached an agreement in order to overcome the issue of concession (of land) in Lazareto. We are going to renew the industrial zone and its shareholders will be included in a national vehicle that will take part in the capital structure of the new management company of CIN,” said Duarte.

CIN, Duarte said, had two duty free zones, one of which is commercial and the other industrial, as well as the International Services Centre, which will serve the whole of Cabo Verde. (macauhub/AO/CV/PT)