Accompanied by the Prime Minister, the Minister of Foreign Affairs, African Integration and the Diaspora, Kandia Camara; the minister of planning and development, Nialé Kaba and the minister of equipment and road maintenance, Amédé Koffi Kouakou, the head of the Ivorian government, Patrick Achi, participated in the various works of Ticad 8 from 26 to 28 August 2022.
On the sidelines of the activities of the Ivorian delegation led by Prime Minister Patrick Achi at the 8th edition of the Tokyo International Conference on Development in Africa (Ticad 8), the Minister of Planning and Development, Nialé Kaba participated in the forum on the theme: “Industrialization and economic diversification in Africa”.
The dynamics of the Ivorian economy
Nialé Kaba took the opportunity to present the economic dynamics of Côte d’Ivoire.
“ Lhave Ivory Coast is a population of approx. 29 million inhabitants, a Gross domestic product (GDP) 60 billion dollarsor 30,000 billion CFA francs of which 22% comes from the industrial sector, a primary sector that continues to occupy an important place (about 20% of GDP), despite a burgeoning industry which the State is working to support and strengthen. This means that Côte d’Ivoire, like most African countries, faces the challenge of structural transformation of its economy, although it has proven to be very dynamic with average annual growth.8% in the period 2012-2019 », specifies the Ivorian economist.
“The National Development Plan (PND 2021-2025) projects an average annual GDP growth of 7.65%”
This forum is the first since the Covid 19 pandemic, and Nialé Kaba returned to Ivory Coast’s resilience to this pandemic before setting out the country’s ambitions.
” That pandemic at Covid 19 and Russo-Ukrainian crisis has shown some resilience in the Ivorian economy with a growth rate of 2% in 2020 and 7% in 2021. They have also shown the need to go further in its structural transformation by further transforming our raw materials on the spot (cocoa, cashew, rubber, cotton, mining products, etc.)and expansion of the country’s industrial base “, stated the Minister of Planning and Development.
Nialé Kaba, pointed out that it is this strategy that is reflected in the National Development Plan (PND 2021-2025), which projects an average annual GDP growth of 7.65%, with significant socio-economic investments, with a total cost of 100 billion USD, or 50,000 billion CFA francs, of which three quarters are expected from the private sector.
“This shows how much the private sector is placed at the heart of our medium-term development strategy. “, adds the Minister of Planning and Development.
The allure of Ivory Coast
Nialé Kaba did not fail to mention the attractiveness of Côte d’Ivoire, in particular the transversal actions related to the strengthening and upgrading of human capital, the development of infrastructure to support investment (energy, industrial areas, roads, etc.), the improvement of the business climate as well as specific incentive measures, that complements the investment code that the government has implemented in recent years to speed up the processing of cocoa and cashew nuts.
Finally, she reiterated the Prime Minister’s invitation to the Japanese private sector to take advantage of the strong growth momentum and invest in Côte d’Ivoire.
“It was agreed to establish a cooperation framework between the Ministry of Planning and Development and the Jetro Abidjan office to remove bottlenecks for co-investment and direct investment”
Long before the forum, the Minister of Planning and Development spoke with the President of the Japan Foreign Trade Organization (Jetro), Sasaki Nabuhiko. During this meeting, she conveyed her gratitude to the organization for all the efforts made to strengthen economic and commercial ties between Africa and Japan.
With Jetro’s president, it was agreed to establish a cooperation framework between the Ministry of Planning and Development and the Jetro Abidjan office to remove bottlenecks for co-investment and direct investment.
Note that Ticad was established in 1993 by the Japanese government. This forum, organized in collaboration with the United Nations, the United Nations Development Program (UNDP) and the African Union Commission (AUC), is devoted to the development of Africa.