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Côte d’Ivoire, also known as the Ivory Coast Republic, is situated in West Africa on the Atlantic Ocean’s Gulf of Guinea; the country has transitioned into one of the biggest and rapidly growing business-friendly environments that describe most of the area. It is recognized for its political stability, longstanding infrastructure, vast natural resources, and the best leading French-speaking states in Africa. More so, it has transitioned to become one of the main hubs for trade and industry. Thus, with the utmost powerful sector in agriculture, a significant immediate sector in industry, and the government’s permanent policy, the Ivory Coast has enormous ambitia of industrial start-ups, MSMEs, and plenty of potential projects for investors of any size. Thus, the country’s Vision 2030 is the ultimate threshold industrial diversification and private-sector expansion that will make the Ivory Coast an ideal example of a wellestablished and established, sustainable industrialized African port.

Reasons to Start Industry in Côte d’Ivoire

Several strategic and structural factors make Côte d’Ivoire one of Africa’s most attractive destinations for investors and entrepreneurs.

1. Strategic Geographic and Trade Advantage

Côte d’Ivoire is situated advantageously on the coast of West Africa and provides a gateway to a market of over 300 million consumers in the ECOWAS zone. In addition to the above, it has modern port infrastructure at principal ports Abidjan and San Pedro, extensive road infrastructure, and international airports and, therefore, serves as a principal logistics and re-export hub.

2. Diverse and Resource-Rich Economy

Abundant resources of nature and various agricultural produce are at the core of Côte d’Ivoire’s economy. Cacao, coffee, cashew nut, rubber, oil, gas, gold. It is top-ranked cacao and cashew exporter, and colossal production of cacao represents solid ground for the establishment of agro-based industries and value addition.

3. Strong Industrial and Infrastructure Base

Côte d’Ivoire is one of the handful African states with fully-fledged industrial zones, power generation, and digital infrastructure. The Abidjan Industrial Zone  and the new Grand-Bassam Free Zone  are home to manufacturing, agro-processing, and logistics companies that are complemented with power and reliable connection.

Availability of Raw Materials and Supporting Factors

Côte d’Ivoire’s economic structure is driven by its vast resource base and growing industrial infrastructure.

1. Agricultural Resources

The country is famous all over the world as the leader in cocoa beans production  and an important supplier of coffee, cashews, palm oil, rubber, cotton, tropical fruits for foreign countries, being the main field crops in the country. The field guarantees unique prospects taking into account the need to form agro-processing, food packaging, confectionery industry, as well as bio-products.

2. Mineral and Energy Resources

 In addition, Côte d’Ivoire is rich in gold, manganese, iron ore, bauxite, and oil deposits. Export revenue can be significantly increased thanks to the priority development of the field in terms of mineral production and beneficiation.

3. Power Supply and Renewable Energy

The Côte d’Ivoire is considered to be the main regional provider of electricity. Most parts of the country receive the electricity supply on a paid basis, but there are also small regions that have free access to electricity. It also exports the electricity consumed in some neighbouring countries. As of 2020, electric power generation depended on water resources and solar energy, with many renewable energy and green technology projects under development with financial support.

Why Select Industry for Startup in Côte d’Ivoire

Côte d’Ivoire’s economic diversity and policy support create wide-ranging business opportunities for investors and startups.

1. Agro-Processing and Food Industry

The country’s strong agricultural base presents considerable opportunities for cocoa grinding and chocolate manufacturing, cashew-nut processing, edible oil extraction, fruit juices, and packaged foods. State-designed projects Agropole Projects  are implemented to promote domestic agro-industrial value chains.

2. Construction and Building Materials

The expansion of infrastructure, urbanization processes, and the growing demand for housing indicate that businesses involved in the production of cement, ceramics, paints, steel products, glass, and prefabrications are reliable industry stake investments of working capital.

3. Renewable Energy and Power Equipment

Furthermore, investments in solar energy, biomass, and hydropower generation can be used as an addition to the national electrification targets that build a reliable power base for the industrial parks and rural communities. 

Market Demand and Future Forecast

For example, over the last decade, Côte d’Ivoire has maintained an average GDP expansion of 6–7% per year, surpassing the majority of other African countries. According to Vision 2030, the same factors feeding into this growth, mainly industrial diversification, leading to export expansion and increased privatization, will also lead to fueling it on the current trajectory.

• additional investment increases in order to support wider local post-pandemic demand for a variety of manufactured goods and processed foods;
• boosts in export competitiveness for a new range of products, including those based on cocoa, cashew and rubber;
• increased imports of various equipment and high-tech tools needed for new types of urban infrastructure, housing, and digital services. Furthermore, post-pandemic investment levels look as follows:
• quite substantial additional investment perceived in new energy, logistics, and transport locations, first of all, for public support to the relevant industrial efforts.

As a result, Côte d’Ivoire is expected to maintain a positive outlook, developing further as a regional industrial leader within West Africa.

Industrial Modernization and Future Outlook

Industrial development in Côte d’Ivoire is based on the key areas of the National Development Plan 2021-2025. The co-development of economic transformation, inclusive growth, and industrialization is projected to foster the rapid evolution of the Ivorian industry. 

The most crucial innovations in the industrial sphere will comprise the establishment of the industrial clusters and export-oriented zones located in Abidjan, Bouaké, and Korhogo; the promotion of advanced technologies and digitalization, especially to enhance the manufacturing sector’s productivity; the improved ecosystem of SMEs and entrepreneurship, realized through training and finance accessibility; the further development of the circular economy and green technologies employed in all the industries. 

Therefore, thanks to these priority innovations, Côte d’Ivoire is rapidly developing into a promising Africa-based area for industrial and business activities.

Government Support and Incentives

The Ivorian government actively promotes entrepreneurship and industrial growth through a range of supportive measures:

• Tax breaks and customs privileges for priority sector investments. 
• Land acquisition and industrial zone or free trade area-based infrastructure assistance. 
• Subsidized loans and injections for small and medium enterprises  and start-ups. 
• Energy, transport, and industrial domain projects developed with private capital. CEPICI as the main vehicle to promote investments in Côte d’Ivoire. One-stop registration and expedited approvals.

All in all, these measures make Côte d’Ivoire one of the most attractive countries to all kinds of investors. 

Considering the country’s stable and highly promising economy, multiple natural resources, and friendly investment atmosphere, the country is one of the most lucrative places in West Africa when it comes to starting an industry. The most significant asset to the state in this sense is the leading worldwide categories of cocoa, cashew, and rubber production, while the industry base, energy pace, and political framework are constantly developing. Thus, starting a business in the industry might be not only efficient but also safe.

Additionally, those who like to entertain huge may-find some other fast-growing sectors like agro-industry, renewable energy, construction, IT, and more attractive. In conclusion, underpinned by Vision 2030, the party in power has committed to fostering all-round growth and prosperity. Therefore, due to complimentary motives, Côte d’Ivoire is on par with the plethora of other African countries for the first time. Besides, Vision 2030 states Côte d’Ivoire – to be a knowledgeable, productive, and industrial society. This will be executed in three steps; this is the rapid agenda of reformation, having a robust public financial landscape, and seeing to it that control is transparent.