The Ivorian economy, one of the strongest of the Economic Community of West African States, remains a favorable destination for foreign investors in the region. According to UNCTAD's 2022 World Investment Report, the country attracted USD 1.38 billion in FDI inflows in 2021, a strong rebound from the low USD 713 million achieved in 2020 in the context of the global health and economic crisis. The total FDI stock was estimated at USD 12.8 billion in 2021. According to UNCTAD’s Investment Trends Monitor, global FDI momentum weakened in 2022 in the context of the war in Ukraine, rising food and energy prices, financial turmoil and debt pressures. The main investors are the European Union (France being the first investor) and Canada. Investments are mainly oriented towards extractive industries and finance.
The National Plan of Development (PND 2021-2025) aims at making private investment a motor of the country's economic growth. In order to facilitate business, a programme of dematerialization of services and administrative acts has been put into place. The political situation has stabilised and the country has put into places major reforms, such as adoption of a new constitution and creation of a Senate, improving the business climate. The country enjoys diversified mining and farming resources, a network of infrastructure in the process of modernisation, a strategic coastal location and a stable economy. However, progress needs to be made in terms of governance, law enforcement and justice and land tenure code reform. Despite progress towards national reconciliation between the government and opposition parties, political stability remains fragile.
|Foreign Direct Investment||2020||2021||2022|
|FDI Inward Flow (million USD)||713||1,377||1,584|
|FDI Stock (million USD)||12,457||12,816||13,675|
|Number of Greenfield Investments*||25||16||22|
|Value of Greenfield Investments (million USD)||783||586||1,083|
Source: UNCTAD - Latest available data.
Note: * Greenfield Investments are a form of Foreign Direct Investment where a parent company starts a new venture in a foreign country by constructing new operational facilities from the ground up.
The main assets of the country are:
The main weaknesses of the country include:
A national development plan has been developed for the period 2016-2020 which aims to make private investment a driver of the country's economic growth. In order to facilitate business, a program of dematerialisation of services and administrative acts has been put in place. Tax relief measures were also introduced.
In 2017, the country introduced major political reforms, such as the adoption of a new constitution and the creation of a Senate, which has significantly improved the business environment.
The National Development Plan (NDP 2021-2025) aims to make private investment an engine of economic growth in the country. In order to facilitate business, a program of dematerialization of services and administrative acts has been put in place.
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Latest Update: September 2023