Cabo Verde moves ahead with Special Economic Zone of Maritime Economy in São Vicente

22 July 2019

The Cape Verdean government has approved the proposal for a framework law that will allow the creation of a Special Economic Area of Maritime Economy in São Vicente, to be submitted to parliament in October, said a Council of Minister’s spokesman.

The Minister of Maritime Economy, José Gonçalves, said that the meeting was focused on maritime affairs and approved three bills, including the proposal for a framework law that allows the creation of special economic zones, which will “be implemented throughout the country,” and will serve as a base law for various activities.

“This framework law creates a legal regime with tax, customs and labour benefits, which give substance to the specifics of this law that creates special zones,” said the minister, quoted by the Inforpress news agency.

The Council of Ministers also approved the bill of the Special Economic Area of Maritime Economy, which was drawn up two years ago in São Vicente in its “various phases,” and which alongside its “framework law” will be submitted to parliament in October for discussion and voting.

The creation of the Sea Campus was another of the documents approved by the Council of Ministers in Mindelo,and is based on the restructuring of the National Institute for Fisheries Development and the Oceanographic Centre, which will include the creation of Universidade Técnica do Atlântico (>Atlantic Technical University), with its headquarters in São Vicente.

The Council of Ministers also approved a decree-law on the Fisheries Fund, which uses resources from international fisheries licenses and from the fisheries agreement with the European Union. (Macauhub)

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