Nestled among the tough Sahara, Mali has relied on mining and tourism for a long time to support the vast agriculture economy. It is the continent's third-largest producer of gold, and the government of Mali has been pursuing strong policies for fostering FDI, encouraging competition, and encouraging private engagement in nearly all industries during recent years.
However, investors' dissuasion is strong due to the unpredictability of the country's safety situation, in particular the military occupation in northern Tuareg and Islamist rebel groups.
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Indeed, FDI inflows dropped to USD 125 million in 2016, the lowest since 2001, after the long-standing high standard of USD 748 million in 2009. At 3 billion USD, the present inventory of FDI is. Worse still, the huge number of expatriates in remote concessions often employed in gold mining, which makes it a primary goal for armed organizations.
Let us know the key reasons to establish a business in Mali!
1. Business Friendly Policy
Mali is an encouraging country to invest abroad. Both international and local investors are in reality treated equally and are equally significant to the government. The Structural Adjustment Facility agreement between Mali and the International Monetary Fund has been in effect since 1992, and this is why investors should establish a company in Mali. It is extremely supportive of foreign investment. The government of Mali has also established measures to stimulate direct investments and export-oriented firms.
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2. Foreign Control restrictions
Local as well as international companies have a right in Mali to set up their own companies. These entities are not limited to pay activities in any way. However, there are certain limitations on ownership in the mining and media sectors.
3. Business Facilitations
Mali's one-stop facility that facilitates foreign and local investment promotion is called the Investment Promotion Agency (API). The API supports both small and small local Malian companies and multinational companies. The API has evolved into a prominent US investment backer.
4. Mali – A member of UNCTAD
Mali is a member of the worldwide transparent investment processes network of the United Nations Conference on Trade and Development (UNCTAD), which is fantastic news for investors, as it enables them to do company peacefully in Mali. All information on the relevant administrative practices that relate to investment and income-producing operations will be available to investors to locate.
5. Strong Economy Benefit
Given its strong bilateral links with Mali, the Malian private industry regards items from the United States as high-quality, trustworthy items and is actively seeking new corporate ties with U.S. companies. Mali's robust economic environment (projected to increase by 5.5% in 2016) and its desire to encourage international investment have turned Mali into a lucrative US company investment atmosphere.
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6. International Labour Organization Agreement
Mali's government has signed the accord, an accord to defend workers' rights in the country, on the International Labour Organization. This is indeed a great step for the security of their citizen.
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7. Government Support
With Mali recovering from the multiple security, political, and economic crises of the past four years, the Malian government (GOM) looks to foreign investment as a vital stability booster. The present yearly growth rates of above five percent are a source of hope for future economic revival, including the signing of a peace agreement and continuing direct discussions between the Government and the army parties.
The Malian government anticipates this good momentum to significantly enhance investment prospects throughout the nation, especially in the mining and renewable energy industries and infrastructure, agriculture, and tourism, notably in the northern region of Mali. The Government also continues to boost the business climate through initiatives to streamline the establishment of businesses and the operational process.
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