Côte d'Ivoire Attracts Chinese Investors in Strategic Natural Resources Sectors

A delegation of Chinese business operators visited the Côte d'Ivoire Chamber of Commerce and Industry (CCI-CI) in Abidjan Plateau on Monday, August 26, 2024, to explore investment opportunities in the country's key natural resource sectors, including mining, forestry, agriculture, and fisheries.

"Côte d'Ivoire is full of opportunities, as we have seen. We have come with investors eager to collaborate in the mining, forestry, agriculture—especially cashew nuts—and fishing sectors. We are here to explore, and we are very interested in these areas," said Liu Jisen, the head of the Chinese delegation.

The CCI-CI, representing over a hundred companies, has shown particular interest in the extraction of mineral resources such as gold and manganese, as well as in agriculture, including cocoa, coffee, palm oil, and cashew nuts, of which Côte d'Ivoire is one of the world's leading producers. In 2023, the country produced 1,225,935 tons of cashew nuts, representing 40% of the global supply.

During the meeting, the members of the Chamber highlighted the economic strengths of Côte d'Ivoire, emphasizing the government's efforts to improve the business environment and attract foreign investments. They also discussed the importance of local raw material processing and export diversification, two national priorities aimed at supporting economic growth and creating jobs.

"The Ivorian government is firmly committed to promoting local raw material processing and industrializing the country. Investing in Côte d'Ivoire means gaining access to both the West African market and the regional market of the African Continental Free Trade Area (AfCFTA)," stated Yao Germain, Director of Economic Studies at CCI-CI.

The President of the Chamber of Commerce, Touré Faman, welcomed the interest shown by Chinese investors in Côte d'Ivoire. He praised the contribution of Chinese companies to the development of infrastructure in the country, a sector where China has played a key role. "We hope to benefit from Chinese experience through this visit and establish a win-win partnership," he said.

The Chinese investors, in turn, expressed interest in long-term partnerships, particularly emphasizing the potential of Côte d'Ivoire's fisheries resources.

This visit aims to strengthen economic cooperation between China and Côte d'Ivoire. Economic diplomacy was at the heart of these exchanges, which serve as a prelude to the 9th edition of the Forum on China-Africa Cooperation (FOCAC) scheduled for September 4-6 in Beijing.

Source AIP