15 Mar 2023 - 16 Mar 2023
Africa faces many challenges that hinder its development both politically and socio-economically in a global state of affairs where economies are weakened, and uncertainty is existing. As a continent with many opportunities, Africa must constantly adapt to the shocks that constrain its evolution. Nevertheless, the continent is proving resilient, whether in the face of the Covid-19 pandemic, the ecological crisis, the Russian-Ukrainian conflict, or the current inflationary trend affecting all economies.
Proof of this resilience: Being a country at the crossroads of the Arab world and Sub-Saharan Africa, Mauritania stands out both for its political stability and its economic development. Indeed, the country’s economic growth has reached 3.9% in 2021 according to the latest projections of the African Development Bank (ADB), the highest rate for a country in the heart of the Sahel, while forecasts in November from the International Monetary Fund estimated that this growth should reach 5.3% in 2022. Taking advantage of its strategic geographical position offering a variety of natural resources, Mauritania has managed to position itself in recent years among the most attractive countries for investment.
The establishment of the Investment Promotion Agency of Mauritania (APIM) in February 2021 is aimed at implementing the firm commitment of the country’s highest authorities to diversify the economy, to support domestic and foreign investment in favor of growth & employment and to position Mauritania in the concert of nations. APIM is in charge of implementing the national policy in investment promotion seeking to increase the country’s productive capacity, to create jobs and generate income for the welfare and prosperity of its citizens. To this scope, the Agency has been able to create more than 10,000 companies and issue more than 85 investment certificates for a total amount of more than 1.2 billion USD creating over 24,000 jobs, since its establishment. Overall, foreign direct investment (FDI) inflows have grown by 55.3% in the last decade.
Mauritania`s public institutions started adopting a new approach while APIM designs a worthwhile strategy of investments. The country of thousands of poets became a regional and international energy hub through hydrocarbons as in the offshore gas project of the Great Turtle of Ahmeyim (GTA) which Mauritania carries with Senegal and the Birallah project, but also through green energy as of a newly established green hydrogen industry attracting an FDI of several billion dollars. These investment projects in green hydrogen are owned by internationally known companies such as CWP, CHARIOT, TOTAL EREN and BP. The largest international investment project in Africa for the year 2022 became CWP with a total amount of 40 billion USD. Moreover, other productive sectors such as tourism, agriculture, fisheries and extractive industries are considered the most attractive sectors for investment in Mauritania.
Mauritania is evolving to add a new story to history.
The “ICDT Invest Days” emerged in 2022 as an initiative of both the Mauritania Investment Promotion Agency (APIM) and the Islamic Centre for Development of Trade (ICDT): a subsidiary body of the Organization of Islamic Cooperation (OIC) that specializes in trade and investment promotion in the OIC Member States. This worthwhile event creates a platform for the promotion of investments benefiting the OIC Member States in different fields. After Dakar, Nouakchott becomes the second host city in the series of ICDT invest days. The Nouakchott ICDT Invest Days will take place on March 15th and 16th, 2023 at the Palais des Congrès in Nouakchott.
The forum will be chaired by the PM of Mauritania, Mr Mohamed Ould Bilal Messoud : and The Secretary General of the Organization of Islamic Cooperation (OIC) Mr. Hissein Brahim.
Read More from OBG
