Bangladesh
Offering one of the most liberal FDI regimes in South Asia, Bangladesh is a growing destination for foreign investment. Good-value labour makes it particularly attractive for labour-intensive manufacturing. A growing middle class in a nation of nearly 130 million citizens also provides opportunities in an expanding domestic market. Several export processing zones (EPZs) have been set up by the Government with accompanying facilitation services and fiscal incentives. Future exploitation of proven gas reserves in excess of 10 trillion cubic feet continue to attract large sums of FDI.
Benin
Benin enjoys a strategic geographic position in West Africa. Open to the Gulf of Guinea, it acts as a maritime gateway to Niger, Burkina Faso and Mali. Benin's membership in the West African Economic and Monetary Union (UEMOA) and the Economic Community of West African States (ECOWAS) opens a potential market of over 200 million consumers. The country also offers large untapped potential in the areas of agro-business, tourism, mining, energy and mineral oil.
Cambodia
With access to large markets, low wages, a liberal economy and tourism, Cambodia is an excellent country for foreign investment. As a member of ASEAN, Cambodia has privileged access to the markets of Southeast Asia. Steady growth in the tourism sector, with an annual growth rate of 30%, provides for ample expansion opportunities. Possible financing from the Asian Development Bank also makes badly-needed infrastructure development an area for potential FDI. Low wages continue to garner interest in the garment industry.
COMOROS
Comoros finds itself on the crossroads of a number of trade routes, situated as it is close to the East African coast, Madagascar and other islands of the Indian Ocean. While its internal market is relatively small (864,000 inhabitants on its four islands), Comoros is a member of COMESA and therefore has access to a market of 400 million people. In addition, the creation of new air routes and important infrastructure investments is enabling the country to improve its accessibility. Formerly focused on exports of vanilla, cloves and ylang ylang, Comoros now offers interesting opportunities in tourism, fishing, agroprocessing and offshoring.
East African Community (EAC)
Comprised of Uganda, Kenya, and Tanzania, the East African Community (EAC) will offer investors the second largest single market on the continent when integration is completed (expected in 2013). Each individual country offers unique investment opportunities, in addition to those for the region as a whole (See individual Investment Guides for country-specific information).
Areas of interest include a skilled and enterprising workforce in Kenya; some of the world’s richest natural resources for tourism in Tanzania; and one of the most liberal African economies in Uganda. The Community shares a common culture, with English widely used in business, government and the judiciary.
Ethiopia
Experiencing relatively stable economic growth, Ethiopia offers a variety of investment opportunities. With a population of over 70 million, it possesses one of the largest domestic markets in Africa. Ethiopia's exceptional climate offers an excellent environment for various agricultural activities, such as floriculture. There are opportunities as well in leather and textiles. Ethiopia has the largest livestock population in Africa– cattle alone number 35 million – and the export of hides and skins was worth over $30 million in 2008 alone. There are opportunities in improving leather quality as well as using it to produce finished goods like shoes and bags.
Kenya
As a member of both the East African Community (EAC) and Common Market for Eastern and Southern Africa (COMESA), Kenya is an ideal investment destination for investors targeting regional markets. With a large port and coastline, Kenya abounds in infrastructure investment opportunities, particularly air and rail transport. Horticulture, with an annual production worth more than $600 million, is one of the great success stories in recent years. The Government also has ambitious plans to bolster the tourism, manufacturing, IT, and financial services sectors through foreign direct investment.
Lao People's Democratic Republic
The Lao People’s Democratic Republic is a natural magnet to investors given its abundant natural endowments, its rich cultural heritage including two UNESCO world heritage sites, and its land-linked position between South-east Asia and East Asia. With its potential in hydropower generation, Lao PDR aspires to be the “battery” of South-east Asia. Investment in the energy sector alone could reach $5.2 billion over the next five years, averaging the equivalent of around 14 per cent of gross domestic product (GDP) a year. Beyond mining, tourism and energy, foreign agricultural investors are attracted by low land prices and rents, as well as low tariffs and duties on Lao exports.
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Mali
Mali offers ample investment opportunities in a politically stable environment. After completing a Multilateral Debt Relief Initiative (MDRI) with the help of the IMF and World Bank 2006, Mali has improved its status as an investment destination. As a member state of both the West African Economic and Monetary Union (WAEMU) and the Economic Community of West African States (ECOWAS), Mali possesses a unique market position in West Africa. Its agricultural section boasts the largest production of cotton in the region, not to mention growing prospects in sugar cane, rice, seed oil production. Mali’s unique natural and cultural assets, such as the famed city of Timbuktu, also offer opportunities for investment in tourism.
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Morocco
Located in the northwest of the African continent and 15 kilometers from Europe, from which it is separated by the Straits of Gibraltar, of Morocco stands at a geo-strategic crossroads between Africa, Europe and the Arab world. The government has made great efforts to reform the economy and promote the foreign direct investment (FDI). The economic openness of the Moroccan economy increased from 51.2% in 2000 to 62.4% in 2007. The European Union is the main trading partner absorbing 73.5% of Moroccan exports. Within the framework of its development policy, Morocco seeks to diversify the growth of different sectors, particularly non-agricultural ones and has paid special attention, putting in place infrastructures to grow sectors of high added value and service sectors with high employment potential. This guide sets forth the rich opportunities and conditions present in the country.
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Morocco, THE ORIENTAL REGION
The Oriental region, one of the sixteen regions of Morocco, benefits from a fast-growing economy and a rapidly-developing infrastructure, the result of significant investment from the authorities, keen to integrate it economically into the rest of the country. The region also boasts a privileged location, bordering Algeria and the Mediterranean Sea, and with good transport connections to Europe. Within Morocco's business-friendly environment, investors benefit from the region's vast natural and economic potential in tourism, agriculture, renewable energy and offshoring.
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Mauritania
The Oriental region, one of the sixteen regions of Morocco, benefits from a fast-growing economy and a rapidly-developing infrastructure, the result of significant investment from the authorities, keen to integrate it economically into the rest of the country. The region also boasts a privileged location, bordering Algeria and the Mediterranean Sea, and with good transport connections to Europe. Within Morocco's business-friendly environment, investors benefit from the region's vast natural and economic potential in tourism, agriculture, renewable energy and offshoring.
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Mozambique
Called a 'success story' by the IMF, Mozambique has proven itself as an attractive environment for investment. Ideally located between Eastern and Southern Africa, it offers a strategic position for investment in a variety of industries. Investor-friendly economic policies pursued by a stable, democratic government have resulted in rapid, sustained GDP growth over the past decade. Opportunities in agro-processing, manufacturing, renewable energy and financial services represent just a few of the sectors benefiting from the country's favourable situation.
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Nepal
Located between India and China, Nepal possesses a number of advantages in accessing two of the world's largest markets. Nepali manufacturers benefit from near duty-free access to the Indian market, opening an important outlet to a growing number of middle class consumers. Proximity to India also allows for the potential expansion of underutilized hydroelectric resources, estimated to generate nearly 44,000 MW of energy if fully developed. Investors currently in Nepal cite its low-cost workforce and small and accessible bureaucracy as beneficial to business.
Rwanda
Rwanda has emerged as a stable country with a bright potential. As a small, landlocked country, Rwanda depends heavily on imports, making it an attractive market for small investors seeking to build up domestic industries. The Government is lauded for its low level of corruption and determination to capture foreign investment, expressing a keen interest in attracting investors in ITC-related activity. Opportunities also exist in developing untapped hydroelectric and natural gas resources.
Tanzania
Tanzania is a secure environment for investment in East Africa. Forecasted growth rates of 4.5%% and inflation around 3% for 2010 also provide for stable economic conditions. As a member of the Southern African Development Community (SADC) and the East African Community (EAC) (See EAC Investment Guide for more information), Tanzania has privileged access to neighbouring markets. Opportunities in mining, particularly gold, diamonds, base metals and gem stones, are successfully being pursued by numerous companies. Agricultural prospects, particularly horticulture, exist due to favourable climate and soil conditions, as does the development of fisheries along the coast and inland freshwater lakes. With twenty-five per cent of its total area allocated to wildlife parks and game reserves, Tanzania possesses unparalleled investment opportunities in eco-tourism.
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The Silk Road region
Known as the great East-West trade link in times past, the Silk Road region today provides a wide range of new and lucrative investment opportunities. With a combined market size of over 145 million people, the Silk Road region is ripe with potential. The diversity and richness of natural resources, together with overall political stability, are additional strengths. It has an abundance of natural resources such as petroleum, natural gas, hydropower and minerals. It also excels at producing agricultural goods such as cotton, fruits and vegetables, meat and animal hides, and seed oils. The famed cities and attractions along the Silk Road, in addition to breathtaking natural landscapes, make for prime tourism destinations.
Uganda
Guided by steady government policy, Uganda is regarded as having the most business-friendly environment in East Africa. Uganda is rich in natural resources and offers a wide range of investment opportunities in mining (cobalt, limestone), agriculture (coffee, tea, fruits) and fishing. The recent economic dynamism has also opened up opportunities in manufacturing and services. Extensive privatisation by the Government has opened opportunities for foreign investment in telecommunications and infrastructure. Known as the "Pearl of Africa," Uganda also has a number of eco-tourist attractions, including Lake Victoria and several wildlife reserves. Despite increasing numbers of tourists, the sites remain largely underdeveloped, opening the way for investment opportunities.
Uzbekistan
Uzbekistan is a transport and communications hub for the Central Asian region, with a number of transnational corporations having already chosen it as their regional headquarters. Uzbekistan has a large internal market of 27 million people, with GDP of 10, 4 billion (in 2008), and offers easy access to the entire Silk Road market of over 142 million people. The guide highlights important opportunities in sectors and markets currently underserved, such as banking and telecommunications. This opens huge opportunities for market entrants in the areas of business loans and mobile phones. The guide also highlights potential in agribusiness and penetrating niche export markets such as fruits and flowers as well as in agro-processing. The labour force of Uzbekistan benefits from high literacy (almost 100 percent), is young and highly trainable.
ZAMBIA
As a land-linked country, Zambia shares borders with eight countries in the South-eastern subregion. It is also a member of the South African Development Community Free Trade Area (SADC-FTA), with a regional market worth $360 billion and COMESA with 400 million people. With a total mineral resource of at least two billion tons in the Copperbelt region alone, the mining sector offers real potential for growth and further expansion in copper and cobalt. Zambia also boasts of precious stones such as emeralds, amethyst, aquamarine, gold and diamonds, among others. Zambia has 752,000 square kilometres of landmass, 58 per cent of which is arable. New farming blocks have recently been made available for use by both local and international investors for cultivation and agro-business purposes. Zambia's tourism potential lies in its vast natural resources, most of which are pristine and unexploited and cater to a diverse and broad range of interests, including varied sceneries, wilderness and wildlife, adventure activities, diverse culture and national heritage.
