Cabo Verde needs to improve the business environment so that the economy can grow

27 March 2019

Deputy Prime Minister and Finance Minister Olavo Correia on Tuesday called on the need to improve the business environment in Cabo Verde so that the economy can continue to grow.

Correia was speaking at the signing of a protocol between the government, the municipal councils and the banks operating in the archipelago, entitled “Pact for financing the economy – from global to local.”

The Minister of Finance, quoted by Cabo Verde’s Inforpress news agency, said it was necessary to create an environment in which private investors could invest in transport, energy, ports and airports, with the state having the role of concentrating its investment in education, health, and creating opportunities for entrepreneurs.

Correia said that the Cape Verdean economy is currently growing at a rate of 5.0%, but that the country still has “a high bureaucratic burden, difficulties in financing, and problems in air and sea transport.”

The protocol signed is intended to create an environment conducive to entrepreneurship and to facilitate access to finance, as well as promote growth and competitiveness. (Macauhub)

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