The heads of a special maritime economic zone on and around the Cabo Verdean island of São Vicente, which is backed by China, have formally taken office, Inforpress reports.
The Cabo Verdean state-run news agency says the president of the zonal authority, speaking at the induction ceremony on Monday, promised to spare no effort to make the zone a driver of development of the four northernmost islands of Cabo Verde.
The report quotes Cabo Verdean Minister of the Maritime Economy Paulo Veiga as saying he hopes the zone will turn his country into a logistics hub, namely for the Economic Community of West African States.
The government expects the zone to draw US$2 billion worth of investment to Saragarça, in the east of São Vicente, by 2035, the report says.
China contributed to the study of the feasibility of the zone, Inforpress says.
(Source) Permanent Secretariat to the Forum for Economic and Trade Co-operation between China and Portuguese-speaking Countries (Macao):