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Cote d'Ivoire Infrastructure Report Q2 2009Published by: Business Monitor International Published: Apr. 29, 2009 - 63 Pages Table of Contents
AbstractA troubled recent history of hostilities and political stalemate has weighed heavily on the prospects andprosperity of Côte d'Ivoire. The African nation ranks 166th out of 177 countries on the 2008 HumanDevelopment Index, compiled by the UN Development Program. Poverty grew from 38.2% just beforehostilities commenced in 2002 to 43.2% in 2006.The repeated postponement of elections only drags the political stalemate out. The country hasn’t held anelection since 2000 and President Laurent Gbagbo’s mandate expired in 2005. The latest delay stemsfrom problems registering voters. At the moment, no date has been set for elections. Delayed elections, ofcourse, mean that any political fallout and instability that may eventuate following the elections is alsodelayed, and that the future political landscape of Côte d’Ivoire cannot be clearly anticipated at this time.Despite the uncertainty, the government announced some infrastructure ambitions in the latest quarter. Two big oil refinery projects were announced in the latest quarter. Reports said the government wants todouble electricity generating capacity by 2016 and that it has ambitious plans to improve the roads thatconnect cocoa farmers to their markets. But announcements are one thing, and accomplishments another.BMI continues to forecast economic growth in 2009, although the current expectation is that real growthwill be only 2.1%, a performance that would be an improvement on the estimated 1.6% growth in 2008. The pace of growth will pick up to 3.7% in 2010 and then to 5.3% in 2011. Exports are expected to slumpby more than US$2bn, to US$7.75bn this year. Imports are also expected to fall. For a country that relieson customs duties for a significant share of its budget, such a slowdown in trade could be painful.The stabilisation of the political situation and the potential for elections in 2009 suggest that significantimprovements to the country’s business environment could be on the cards over the coming years. However, the challenges are considerable. Aside from a frail physical infrastructure and low educationlevels, the country's institutions - especially the judicial system - remain weak and plagued bycorruption. The country now faces the added problem of the global economic slowdown. The IMF says a ’thirdwave‘ of the economic crisis is about to hit the world’s poorest countries, including those in Africa.Major indigenous and foreign companies with a presence in Côte d’Ivoire’s infrastructure sector includeBouygues, China Geo-Engineering Corporation, Saipem, Solel Boneh International Ltd., Technipand Vinci. Get Full Details About This Report >> |
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