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The Strategic Plan for Côte d'Ivoire 2030
The vision is to make Côte d'Ivoire an industrial power (reiterating the title contained in the PND 21-25). This projection revolves around various objectives, including doubling the income per capita within a decade, increasing it from $1,721 in 2019 to $3,440, and drastically reducing the poverty rate, with a target set at 20% by 2030. This ambition also encompasses multiplying job opportunities, increasing life expectancy, substantially raising the overall investment rate from 22% to 40%, and generally improving access to education for all (excerpt from PND 2021-2025).
The National Development Plan 2021-2025 embodies the guiding path towards achieving the objectives of this vision. It is based on six fundamental strategic pillars, namely:
- Acceleration of the structural transformation of the economy through industrialization and the development of clusters;
- Development of human capital and promotion of employment;
- Development of the private sector and investment;
- Strengthening inclusion, national solidarity, and social action;
- Balanced regional development, environmental preservation, and combating climate change;
- Strengthening governance, modernizing the state, and cultural transformation.
A Strong Macroeconomic Framework
Since 2012, the Ivorian government has embarked on a vast project to transform the country's economy through the implementation of projects, programs, and reforms contained in national development plans, under the enlightened leadership of President Alassane OUATTARA.
In 2023, the Ivorian economy demonstrated remarkable resilience, despite a global and regional context disrupted by political tensions and tightening financial conditions. Economic growth reached 6.2% in 2022 and 6.5% in 2023.
This robustness has led to a relative decrease in poverty, although inequalities between urban and rural areas have intensified.
Inflation has decreased, falling from 5.2% to 4.4%, thanks to measures to combat the high cost of living.
In the medium term (2024-2027), real GDP growth is expected to average 7% per year. Continuous investments in infrastructure, particularly in the fields of digital technology and transportation, as well as the exploitation of recent oil, gas, and mining discoveries, should strengthen business confidence and improve productivity.
Projects aimed at developing agricultural value chains should also promote transformation and support long-term growth prospects.
Furthermore, the continuous improvement of the business climate has allowed Côte d'Ivoire to rank 9th among African economies, 3rd in Francophone Africa, behind Algeria and Morocco, and 2nd in West Africa after Nigeria (source: World Bank).
A Preferred Gateway to the ECOWAS Market
The geographical location of Côte d'Ivoire is undeniably a major asset as a strategic entry point to the ECOWAS (Economic Community of West African States) market. Its shared borders with five neighboring countries, its coastal expanse (a maritime front of 515 km and 4,460 km2 of sea), as well as its quality transport infrastructure such as ports, airports, roads, and railways make it a highly attractive space for many international investors.
The ports of Abidjan and San Pedro are essential pillars of regional and global trade. Their relative competitiveness greatly contributes to facilitating trade with neighboring countries and beyond. Moreover, the presence of an extensive road and rail network enhances Côte d'Ivoire's connectivity with neighboring nations, thereby facilitating the transport of goods.
High-Performing Socio-Economic Infrastructure
The socio-economic evolution of Côte d'Ivoire is remarkable, with significant progress in essential areas such as health, education, electrification, and access to drinking water.
In terms of health, 72% of the population has access to a health center located within 5 km as of 2023.
The education sector is also experiencing notable expansion, with more than 3,590 secondary education institutions, 600 universities and grandes écoles, as well as 70 technical and vocational training institutions.
Between 2011 and 2023, electricity production in Côte d'Ivoire has significantly increased, rising from 1,391 megawatts (MW) to 2,907 MW, representing a growth of 89.2%. This capacity is distributed among various energy sources: seven hydroelectric dams with a total capacity of 879 MW, five thermal power plants totaling 1,998 MW, and a solar power plant in Boundiali with a capacity of 30 MW.
Finally, in 2023, regarding drinking water supply, the urban hydraulic coverage rate is 78% and is expected to continue improving in the coming years.
These advances reflect the commitment to fostering inclusive and sustainable development while calling for continued actions to continuously improve the quality of life for citizens.
A Qualified, Abundant, and Competitive Workforce
Higher education institutions, such as the National Polytechnic Institute Félix Houphouët-Boigny (INPHB) and the National School of Statistics and Applied Economics of Abidjan (ENSEA), play a crucial role in training highly qualified professionals in almost all sectors of activity. These institutions contribute to providing a skilled and specialized workforce.
Moreover, the country has invested in programs aimed at improving vocational and technical training to meet labor market needs. This has allowed for the development of a pool of qualified talent in various sectors such as agriculture, information and communication technologies, and the service sector.
Developed Industrial Zones and a Free Zone
In 2023, Côte d'Ivoire counted nine (9) main industrial zones. These include:
- Yopougon on 469 ha with 349 active companies;
- Vridi on 120 ha with 132 active companies;
- Koumassi on 120 ha with approximately 300 active companies;
- Bonoua with 329 ha, has 23 active companies on an area of 51.4 ha;
- San Pedro on 200 ha with 141 active companies;
- Yamoussoukro, on 750 ha of which 250 ha are exploited with 24 active companies on an area of 94.6 ha;
- Bouaké on 235 ha with 12 active companies on an area of 32 ha;
- Akoupé-Zeudji PK24, covering 940 ha with 115 companies (of which 27 are active and 17 are under construction) occupying a total area of 56 ha;
- Assouba (Aboisso), with 50 ha, has 4 companies, including 2 active.
Côte d'Ivoire also has a free zone called the Village of Information Technology and Biotechnology (VITIB). This space, located in the seaside town of Grand Bassam, near Abidjan, offers a favorable environment for the development of companies operating in the fields of ICT and biotechnology.
Investment Opportunities
Côte d'Ivoire presents itself as fertile ground for wise investments in several flourishing economic sectors. The most promising investment prospects are primarily observed in the following areas:
- Agriculture and Agro-industry: Globally recognized for its production of cocoa, coffee, cashew nuts, palm oil, and rubber, Côte d'Ivoire offers substantial investment opportunities in agriculture and agri-food processing, benefiting from a constantly increasing international demand.
- Renewable Energies: The nation is firmly committed to the development of green energies such as solar and wind, thus offering significant investment opportunities in this booming sector.
- Infrastructure: The renovation and modernization of infrastructure encompassing roads, bridges, ports, and telecommunications stand as a major priority. Investments in this area are thus seen as an essential driver of economic growth.
- Technology and Startups: The rise of technology startups offers fertile ground for investments in sectors such as fintech, e-commerce, and digital services, promising rapid growth potential.
- Real Estate: The growing demand for housing and real estate in urban centers offers attractive investment prospects in the residential and commercial real estate sector.
- Tourism: Enriched with appealing natural and cultural sites, Côte d'Ivoire is emerging as a tourist destination, offering investment opportunities in the growth of the tourism and hospitality industry.
Thus, the Ivorian government actively encourages Public-Private Partnerships (PPPs) to realize infrastructure projects and stimulate economic growth.
