Cape Verde expects to attract 1.6 billion euros of investments this year

Most investments are in the tourism sector.

Most investments are in the tourism sector.

  |  Macauhub

Cape Verde approved 46 projects in 2019, totaling 480 million euros in investments, and it plans to authorize 74 projects this year, in an investment of 1,600 million euros, according to data released today by Cabo Verde TradeInvest.

According to the national investment and export promotion agency, Cabo Verde TradeInvest, the projects approved this year will allow the creation of 3,654 jobs on seven islands of the archipelago.

The sectors in which the investment stands out are: farming, industry, health and tourism. Tourism is the one that has more projects, with a total of 31.

In 2020, CV TradeInvest expects to approve 74 projects, especially on tourism (56), but also in the areas of industry (11), health (3), information and communication technologies (1), services (1) and creative industry (2).

"More than 1.6 billion euros will be invested. This will create 8.426 jobs", said the Cape Verdean agency.

For 2020, CV TradeInvest said that the One-stop Shop for Investment is expected to be updated. This is a digital processing portal for all investment processes, making the process more transparent, quick and effective for all small, medium and large investment projects.