Cape Verde, FDI inflow rise by 70% in 2021

Cabo Verde Turismopraia

Foreign Direct Investment (FDI) in Cape Verde increased by more than 70% in the first half of this year, compared to the same period in 2020, to 45.5 million euros. Tourism and fishing are the areas most sought after by investors, mainly from Portugal and Spain.

A statistical report by the Bank of Cape Verde (BCV), this month, states that the archipelago raised from January to June this year more than 5,042 million escudos (45.5 million euros) in foreign investment – ​​about half in the sector of the tourism -, a value that compares with the almost 2,927 million escudos (26.4 million euros) in the first half of 2020, already with the effects of the crisis caused by the covid-19 pandemic.

FDI in Cape Verde, which also includes holdings, reinvested profits and other capital, was again led in the first half of 2021 by Portugal, with 1,246 million escudos (11.2 million euros), also essentially in the tourism sector.

This is followed by Spain, which invested 566 million escudos (5.1 million euros) from January to June this year, in addition to tourism, also in industry and construction, and then Italian investors, who invested 119 million in the same period. of escudos (one million euros), according to BCV data.

With reports from africa21digital

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