EU supports Cabo Verde business forum to promote investment and jobs

The Cabo Verde Investment Forum 2019 started on July, 1. The three-day high-level business event will provide an opportunity to promote investment opportunities and mobilise financial resources for projects that will create jobs and support sustainable growth. The EU has provided technical assistance for this event.

The Government of Cabo Verde is promoting the country as the ‘Mid-Atlantic Gateway to the World’s Economy’. It estimates investment opportunities for private sector initiatives and public-private partnerships are around €2 billion, distributed in seven key economic sectors, such as renewable energy, tourism, the blue economy and agribusiness. There is also significant potential for public-private partnerships in strategic sectors such as regional integration and international trade.

Through the EU’s External Investment Plan, which will be presented at the forum, the EU is boosting investment through risk-sharing so that real or perceived risks do not hamper the mobilisation of private or public investment.

The plan focuses on areas that can create jobs and have a real added-value for people. This will allow African economies to grow stronger in a sustainable and inclusive way. By using €4.5 billion in EU funds, the EU will secure ten times that amount – €44 billion – by 2020 in public and private and private investment for development. As part of the Plan, the EU is also working with governments and businesses to make their countries more attractive places to invest in.

Original source: European Commission
Published on 01 July 2019