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the basis of Ivorian economy

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Market & Business

Chocolate is essential

Agriculture dominates the market of Ivory Coast, particularly the growing of cocoa beans, the state’s greatest export.

Ivory Coast supplies more than a third of the world’s cocoa and its exports for the global chocolate market were worth around 2.5 billion dollars in 2010 (according to the UN’s Food & Agriculture Organisation). !

New trees wanted

Outputs of cocoa trees fall after the last important cycle of planting and 30 years was in the 1970s. Some new trees are planted (with backing from big food companies), but they represent a small percentage of output.

Nevertheless, routine blights like black pod disease threaten earnings from cocoa production. Small farmers are not able to afford the routine spraying which would shield their cocoa crops. The sector suffers from under-investment.

Local investment is hampered by high taxes on farmers, with around 40% of the cash paid by commodity buyers going to the authorities. Since most cocoa producers are small scale, this has led some farmers to rely on child labour to make a living. !

Petroleum and natural resources

Natural gas generation and petroleum are a growing sector of the market. Crude oil is processed by a leading refinery at Abidjan from off-shore rigs. Some petroleum is used and the remainder is refined into oil products for export.!

Ivory Coast has mineral resources, including gold and diamonds. Deposits of iron ore, manganese and bauxite are there to be developed.

Production is largely restricted to the refining and processing of agricultural produce (e.g. palm oil, coconut oil, sugar) or the canning of fruits such as pineapples. !

State of the market and business

After independence in 1960, Ivory Coast have decades of steady government and became the most wealthy nation in West Africa, boasting the fourth-biggest market south of the Sahara.!

Many state-owned companies, including water and electricity utilities. But during the 1990s, the market declined with coups and political offices. It suffered farther during the recent violence following elections in 2010 and the civil war of 2002.!

Nevertheless, stability and peace in the last few years have enabled the market to boom, with increase in the petroleum, banking and transport sectors particularly.

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BusinessLifeStyle

Clé des Chateaux

cle des chateaux

La cle des chateaux va bientôt ouvrir ses portes !

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BusinessNewsTravel

tourism in cote d’ivoire

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Ending of the battle brings economic recovery

After a civil war crossing 2010-2011 that prevented the market, Côte d’Ivoire is once again back in company with a substantial stream of FDI targeted at a broad variety of marketplaces. The government is pushing on particularly, and Côte d’Ivoire its economic capital Abidjan, to become a heart for the wider French-speaking area. As international resorts and more airlines enter the state, a broader variety of company infrastructure will become accessible and foster Abidjan’s attractiveness as tourist destination.

Infrastructure developments fostered travel and tourism

In 2012-2013 new highways were introduced to foster domestic, inbound and outbound tourism, but also to meet the requirements of business and industrial needs. Abidjan is linked to Signrobo and farther, to Yamoussoukro, in the north of the state. Connections to neighbouring states are priority jobs for the authorities. Railways must be enhanced within the state.

Growing petroleum extraction sector to supply affordable costs for transport and to drive sea transport

As a result of foreign investments into the development of the petroleum industry, the authorities established in 2013 a modernisation project for the port regions that were vital. Because of this, this leads to increase of sea transport and keeps the inflation and costs on fuel for transport. One of the essential associates of the authorities are Lukoil, but also the global players, like Total, Pétroci, and Panatlantic, First Fuel and Taleveras.

Air Côte d’Ivoire demonstrates remarkable increase after two years in the marketplace

The national firm demonstrated promising results in two years of operations and managed to join the essential players out there. It supplied flights by the end of 2013 to 17 destinations. Air transportation remains the vital contributor to the development of tourism and travel in the state.

Journey lodging corrected in accordance with general tourism strategy

Company tourism is the primary kind of inbound tourism in Abidjan city, the economical capital of the state. But the government attempts to bring more leisure tourists and develops five star resorts for dynamic high class leisure tourists of traveling lodging alongside growth to distant regions and develop ecotourism. A job to build 30 bungalows called “relais Paillotes” making use of ecologically pure sources of energy and found nearby natural parks, is one example.!

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Business

Business in Ivory Coast

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The Ivorian economy is largely market depends greatly on the agricultural sector and based. Nearly 70% of the Ivorian people are engaged in some type of agricultural activity. Thus, the market is highly sensitive to changes in international prices for these products and to weather conditions. Despite efforts by the authorities to diversify the market, it’s still mainly dependent on agriculture and associated tasks.

82% grew in the 1960s, reaching a peak increase of 360% in the 1970s. But this proved unsustainable and it decreased in the 1990s by 28% in the 1980s and a further 22%. This resulted in a steady drop in living standards. Gross national product per capita, now growing again, was about U.S. $727 in 1996. (It was significantly higher two decades past.) Additionally, government adherence to donor-mandated reforms caused a jump in growth to 5 in 1996-99. Primary exports are coffee, cocoa, and tropical woods. Principal U.S. imports are cocoa and cocoa products, oil, rubber, and coffee.

Connections to nearby states and Côte d’Ivoire’s place makes it a favorite stage from which Europeans run business operations that are West African. The city of Abidjan is among the most modern and liveable cities in the area for well-off French expatriates. Its school system is highly regarded and contains an outstanding international school based on an U.S. program and several outstanding French-based schools.

Côte d’Ivoire has stepped up public investment plans after the stagnation of the pre-devaluation age. It also will provide for substantial spending, although the government’s public investment strategy allows priority to investment in human capital. Ongoing infrastructure development is also anticipated to happen due to private sector action.

With no direct government intervention, anticipated investments in the oil, electricity, water, and telecommunications sectors, and in part of the transportation sector, will be funded in the new surroundings of government disengagement from productive tasks and in the aftermath of recent privatizations.

Foreign direct investment (FDI) plays an integral part in the Ivorian market, accounting for between 40% and 45% of overall capital in Ivorian companies. France is overwhelmingly the most significant foreign investor. Recently, French investment has accounted for about one quarter of the entire capital in Ivorian businesses, and between 55% and 60% of the entire stock of foreign investment capital.

Bank. valued at $2,327 million in 2005 by the the stock market capitalisation of listed firms in Cote d’Ivoire

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