Special Economic Zone of São Vicente, Cabo Verde, will be “approved soon”

2 July 2019

The decree-law creating the São Vicente Special Maritime Economy Zone will be “approved soon,” Cabo Verde’s prime minister announced on Monday in Santa Maria, on Sal Island.

Ulisses Correia e Silva made the announcement at the opening of the 2019 Cabo Verde Investment Forum, which brings together over 400 participants, adding that reforms are underway to position the country as a “platform in the Mid Atlantic.”

“We are at a crucial moment in the development process of Cabo Verde, guided by a strategic objective,” said the prime minister, who intends to make the country “relevant, in the Mid Atlantic” in economic, security and diplomatic terms for “peace and the promotion of freedom and democracy.”

Cited by the Inforpress news agency, he also said that his government intends to position Cabo Verde as a platform in tourism, air transport, port operations, as well as in trade and investment operations and in the digital economy and financial services.

Information and Communication Technologies, according to the head of government, are an area where Cabo Verde occupies a “good position” in Africa, adding “we must marry our ambition with the ambition of available investors so that together we can turn Cabo Verde into a digital platform in Africa, creating good business opportunities.”

The Prime Minister of Cabo Verde in September 2018 met in Beijing with officials of the China Development Bank, “one of the largest development finance institutions in the world,” Correia e Silva said on his personal Facebook account.

The Cape Verdean government wants the São Vicente Special Maritime Economy Zone to have “to have strong partnerships with financial institutions, namely the China Development Bank,” wrote Correia e Silva, who went to Beijing to attend the third edition of the China-Africa Cooperation Forum (FOCAC). (Macauhub)