Key Sectors for Trade and Investment

---

Priority sector for the government, with the largest impact on the country's economy, representing around 21% of GDP. The country receives more than half a million tourists each year, a figure that is soon expected to grow to one million. The level of the offer underlines the presence of international benchmark brands in the sector: RIU, TUI, Hilton, Sol Melia, Thomsonfly, among others. 

Main Business Opportunities

• Hotels, Resorts
• Low Cost Air transport
• MICE
• Rural tourism and ecotourism
• Cruise tourism
• Water sports, Tracking
• Health tourism

 At the moment the rate of penetration of renewable energies already represents about 20%, one of the highest, of Sub-Saharan Africa. The Government aims to achieve a high level of penetration of renewable energies over the next few years, reducing the dependence on fossil fuels and their effects on the country's balance of payments. All these factors mean it is considered a priority sector for investment. Cape Verde has one of the strongest wind regimes in the world (18m/s) and has great potential for solar energy, with an energy/day ratio of 6-8 Wh/m²/day.

Main Business Opportunities

• Investments in Energy Parks in the Islands, with the majority of them renewable
• Possibility of public private partnerships

The geostrategic location in the Atlantic, in the center of the trade route between 3 continents, has always been a competitive advantage for the country, making it naturally attractive as a logistical hub, as well as for port activity and ship repair.  There is also a growing fisheries industry (fish processing), making up the majority of the country's exports. The fish stock potential deemed to be sustainable is between 36,000 and 44,000 tonnes per year.

Main Business Opportunities

•  Atlantic Logistics Hub – a container transhipment terminal
• Ship construction, repair and maintenance
• Bunkering and port handling
• Construction and management of a new deep water port and cruiser terminal on the island of S.Vicente
• Fishing industry
• Creation of a Science and Technology Park about the sea and fisheries

Since the government has established conditions on the mobilization and collection of water, as well as the management of river basins, there are huge business opportunities in the agriculture sector.

Main Business Opportunities:

• The tourism value chain (supplier)
• Strengthening of national production (vegetables, meat, eggs etc., to replace part of the imports
• Hydroponic Cultivation, and through drip irrigation
• Transfer of production and transformation knowledge and technologies

The government is adopting a new industrial development strategy for employment growth and plans to give impetus to national industry, taking advantage of the benefits of the AGOA program and ECOWAS.

Main Business Opportunities

• Textile Industry
• Clothing and footwear
• Production of packaging for other industries
• Production of Sal

The Government of Cabo Verde is available to negotiate public-private partnerships in the areas of airport management, ports, maritime transport and public infrastructure.