The creation of “special economic zones” in Africa could attract more investors to the continent, which received only 42 billion dollars in investments in 2017, a very low figure, according to experts from the African Free Zones Organization (AFZO).
Special economic zones offer more advantageous conditions for companies than in the rest of the country, for example from a customs or tax point of view.
They can contribute to the creation of “industrial dynamics in Africa” and “help to make a country more attractive and industrialized”, said Fouad Brini, President of Tangier MED and AFZO, on Friday at the opening of the “African Economic Zones” meetings, bringing together 30 countries from the continent in Abidjan.
“Investments in Africa at the industrial level must progress and we must rely on ourselves to do so” and thus create employment and wealth, he continued.
For his part, the Ivorian Minister of Trade and Industry Souleymane Diarrassouba stressed “the urgent need for the African continent to take measures to advance sustainable industrialization as a key element for the diversification and resilience of economies, but above all for the creation of added value, decent jobs, and significant poverty reduction”.