Foreign investment in Cape Verde accounts for 50 pct of GDP in 2007
June 11th, 2007 by 
Horizon News
Praia, Cape Verde, 30 April - Cape Verde expects to approve Foreign Direct Investment (FDI) projects to the value of 600 million euros this year, representing more than half of the islands’ GDP (Gross Domestic Product), officials have said.
The head of Cape Verde’s CVI state investments agency, Victor Fidalgo, told Portuguese news agency Lusa last week that foreign investment of 180 million euros, equivalent to 20 percent of GDP, has already been made this year. This figure could rise to 1.5 billion euros by the end of the current session of Parliament, he added.
Fidalgo described these forecasts as “pessimisticâ€, as the interest shown by many countries to invest in Cape Verde suggests that the final figures could be much higher.
Overseas investment in Cape Verde per year was around 30 million euros until 2004 and the current level of 600 million euros would have been unthinkable at that time, noted the CVI chief.
British investors currently top the overseas investment league in Cape Verde, followed by those from France, Portugal, Italy, the UAE and other countries.
Posted in Canary Islands, Investment News | 
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