Investment key to driving developing ambitions

Q+A: Daniel Kablan Duncan

Editor's note: Following the end of a violent post-election civil conflict in 2011, Cote d'Ivoire has become Africa's most resurgent economy, posting growth figures which are the envy of the world.

This year, the International Monetary Fund predicts the Ivorian economy will be the second-fastest growing in the world after Myanmar, as the country, with its population of 23 million, continues through a boom period of expansion buttressed by an ambitious development plan.

Prime Minister Daniel Kablan Duncan explains the country's development strategy to The Business Report's David Lozano.

Can you explain Cote d'Ivoire's development plan?

Our National Development Plan for 2020 features projects designed to support an industrializing nation, such as renovating the Port of Abidjan, developing the education sector and expanding the supply of our power grid.

Indeed, our average GDP growth has been more than 9 percent over the past four years and we are optimistic that these projects will improve on this while engendering long-term relationships with fast-growing nations such as China.

This plan will have clear spillover effects. For example, added investment in higher education is transforming Abidjan into a regional training center.

And a greater focus on achieving industrialization will support value-adding processing facilities for our agricultural products, including cocoa, cotton and cashew nuts.

How much investment is being targeted?

Our development plan is set to feature about $50 billion of investment, and we want 70 percent of that to be funded by foreign entities.

We have seen substantial interest from Chinese investors, such as the nearly $900 million loan for the Port of Abidjan expansion.

What models are being used to attract large-scale investment?

Our plan is to use the build-operate-transfer and build-own-operate models using concession-based contracts, with these assets eventually handed back to the State. This means private investors achieve financial returns through operating and possibly owning each project.

We used these structures for the upgrade of Abidjan International Airport.

(China Daily 08/08/2016 page25)