Description
The Ivoirian government understands that their annual growth rate over 7.5 percent cannot be sustained without foreign investment through mergers, acquisitions, joint ventures, takeovers, or startups. As part of its post-crisis economic reconstruction plan, the government actively encourages FDI and is committed to doubling foreign investment over the next several years. Although the government encourages all foreign investment, French firms have traditionally dominated key sectors of the Ivoirian economy. Among other large investments, French companies currently own the national electric and public water utility companies. They also manage a portion of the Port of Abidjan, the airport, and the country’s only railroad. A French company maintains a controlling interest in the country’s national telecommunications provider and is a major force in wireless telecommunications. Foreign companies are free to invest and list on the regional stock exchange (BRVM), which is based in Abidjan and dominated by Ivoirian and Senegalese firms. With the inception of the regional exchange, the West African Economic and Monetary Union (WAEMU) members established the Regional Council for Savings and Investment, a regional securities regulatory body.
