republic of cote d'ivoire ------------------- union – discipline – work
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Republic of Cote d'Ivoire ------------------- Union – Discipline – work CABINET OF PRESIDENT,. NATIONAL SECRETARY FOR RECONSTRUCTION AND REINSERTION. Presentation of the National Secretary at the Toronto Conference 2012. - PowerPoint PPT PresentationTRANSCRIPT
Republic of Cote d'Ivoire
------------------- Union – Discipline –work
CABINET OF PRESIDENT,
NATIONAL SECRETARY FOR RECONSTRUCTION AND REINSERTION
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Main
Topic :
Leading economic changes : new growth
opportunities in energy, natural resources,
infrastructure, finance and trade.
Presentation of the National Secretary at the Toronto
Conference 2012
Theme of Tuesday, October 2, 2012: Day dedicated to Infrastructure and
Natural ResourcesTheme
:
Development impact of mining and infrastructure sectors
on economic growth of Côte d'Ivoire.
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Ladies and gentlemen, all your grades and qualities. First of all I would like to thank the organizers of the Toronto Economic Forum 2012, particularly Mr Gil and Nicolas Remillard.
My thanks also go to the Canadian people and its Government who have always maintained a good partnership with the Ivorian authorities. Indeed, this platform of expression that you give us is in conformity with the efforts of the Ivorian Government to make clear to all partners and investors in the world and in Americas, particularly in Canada that Côte d'Ivoire is back and intends to consolidate its position as the engine of economic and social development in west Africa
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through the operationalization of the economic and social development vision of the President Alassane OUATTARA whose will is to make Côte d'Ivoire an emerging country by 2020. Our contribution will therefore revolve around macroeconomic outlook for the years 2012 to 2015 and the impact of infrastructure and mining on the economic growth.
Côte d'Ivoire is a West African country that has come through more than a decade of crisis. Its growth rate was -4.7% in 2011.To meet the urgent needs of the populations and stabilize the macroeconomic framework, the Government has established an emergency program, supported by Fast Credit Facility (RCF), which received significant financial support from the entire international community (WB, ADB, IMF, etc).
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The success of its implementation and the consolidation of peace led to the conclusion of a three-year program supported by the Extended Credit Facility (ECF).
Taking advantage of reaching the completion point of the HIPC initiative in 26 June 2012, the Government has adopted a strategy of economic recovery based on the restoration of a dynamic, strong and sustainable growth by 2012 with the private sector as a key actor.
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Restoring the sustainability of public finances remains one of the positive aspects of the completion point of the HIPC initiative allowing the country to seek further international financial markets at a lower cost without risk of explosion commitments impact on the state budget and develop economically viable projects, including through public-private partnerships.
NB: Specific arrangements have been taken to regulate the debt with the establishment of
the National Committee of the Public Debt (CNDP)
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Reaching the completion point of the HIPC initiative is a platform of opportunities that must be transformed in order to make effective a second period of economic prosperity in Côte d'Ivoire.
The economic recovery strategy is based on the National Development Plan and is summarized as follows:
1. Stability of Macroeconomic framework and public finance;
2. Improving the business climate;
3. Revival of public and private investment;
4. Diversification of sources of growth.
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The macroeconomic stability and consolidation of public finances is the first step in the political economy of sustainable recovery.
It involves:• boosting economic growth;
• control of the general level of prices;
• good performance of external accounts;
• controlled management of the monetary situation.
• The consolidation of public finances requires that the state monitors its funding, opting for options that do not lead to situations of continued deficits.
In other words, the government must manage the resources, that is to say, in accordance with the principles of good governance..
STRATEGY FOR ECONOMIC RECOVERY
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Improving the business climate is a central policy of economic recovery. It involves (i) the environmental remediation and (ii) the resolution of structural problems.
The remediation of environmental concerns, including :
• continuation of ongoing reforms to achieve the competitiveness of key sectors of the economy;
• justice reform, with the aim to improve the efficiency, transparency and independence of the judiciary system;
• revision of the legislative framework for conduct of business (investment code, hydrocarbons code, electricity code, etc.)..
STRATEGY FOR ECONOMIC RECOVERY
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The remediation of environmental concerns also :
• enhancing the competitiveness of key sectors of the economy, with major reforms such as coffee and cocoa sector, the energy sector,
• improving the conditions for the economic activity, with the fight against false charges, fraud, smuggling and counterfeit goods;
• creating a business center facility, with the aim of concentrating in one place, those involved in the creation of business to reduce the time to 48 hours, etc..
structural problems to be solved relate to the competitiveness of the sectors, the productivity of internal processes and quality.
STRATEGY FOR ECONOMIC RECOVERY
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• The National Development Plan provides a level of investment of 11.000 billion CFA francs or 24 billion U.S. dollars over the period 2011-2015. In 2011, the total investment accounted for just over 1.8 billion USD
• To achieve this objective, the Government intends to:
make efforts for the public investment (over the period 2012-2015, approximately U.S. $ 9 billion of investment);
promote public partnerships;
encourage the private sector (U.S. $13 billion from 2012 to 2015).
STRATEGY FOR ECONOMIC RECOVERY
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Regarding public investment, increase is required to:
- rehabilitate infrastructure destroyed during the crisis;
- build new infrastructure to meet the deficit related to lack of investment over many years.
The rate of public investment is expected to increase and settling at:
• 5.3% of GDP in 2012;
• 7.1% in 2013;
• 9.1% in 2015.
STRATEGY FOR ECONOMIC RECOVERY
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• The increase in public investment includes the implementation of Contracts Debt Relief and Development covering a total of about U.S. $ 2.6 billion, including U.S. $ 0.82 billion from 2012 to 2015
Mechanisms C2D:• signing between Côte d'Ivoire and France of an
agreement with a staggered schedule over time;
• registration deadlines annual budget expenditure and payment by the Treasury;
• payment restitution received by France to Côte d'Ivoire as a donation, within a maximum period of one month;
STRATEGY FOR ECONOMIC RECOVERY
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• use of donations received for the implementation of investment projects previously identified by the Government in accordance with the priorities of the NDP.
• Revival of private investment through:− By promoting public-private partnerships (PPP)
− by promoting the destination Côte d'Ivoire;
Note: Selecting priority PPP projects involved in the commercial sector
Example to continue:
o Henri Konan BEDIE Bridge
o Azito and CIPREL(Thermal Power Plant)
Thus, private investment would increase from 5.4% of GDP in 2011 to 6.7% in 2012, 11.7% in 2014 and 14.4% of GDP in 2015
STRATEGY FOR ECONOMIC RECOVERY
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Recent studies have shown that Côte d'Ivoire has a higher growth potential in some areas than others.
Infrastructure sector (Reconstruction in all areas)
Public investment has been particularly affected by the long period of crisis, so that the infrastructures could not be maintained or developed because of the low fiscal capacity
The rate of public investment is expected to increase and settling at:
• 5.3% of GDP in 2012;
• 7.1% in 2013;
• 9.1% in 2015.
STRATEGY FOR ECONOMIC RECOVERY
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-Roads (5200 km of rehabilitation and 5000 km of new roads to be built)
-Health, education, housing-Energy, industry, mining (dams, thermal power plant,
pipeline)- Agriculture, ports and airports infrastructure (new terminal in San-pedro and Abidjan) etc. A portfolio of projects to be implemented within the
framework of a public-private partnership is available.
the mining and energy sectors
where a development strategy is underway with the preparation of the new mining and energy code. These sectors represent new sources of incomes in addition to those generated by the coffee and cocoa.
STRATEGY FOR ECONOMIC RECOVERY
COTE D’IVOIRE – GEOLOGICAL MAP
COTE D’IVOIRE – GEOLOGICAL MAP
Sedimentary
Granit
Green Rocks
Archeen
GEOLOGY
Birimien
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GOLD BEARING POTENTIAL IN COTE D’IVOIRE
GOLD BEARING POTENTIAL IN COTE D’IVOIRE
MorilaSiguiri
Abidjan
Côte d’Ivoire
Ouagadougou
Niamey
Burkina
Mali
Bamako
Niger River
YatelaSadiola Hill
LouloSabodala Faso
Niger
Atlantic Ocean
Syama
BibianiObotan
Obuasi
Poura
Samira
NTongon
Angovia
Bonikro
Ity
Afema
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GUINEE11%
MALI10%
BURKINA FASO21%
GHANA19%
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100
7
50
Au tonnes
COTE D’
IVOIRE 35 %
%Birimian
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COUNTRY IRON GOLD BAUXITE CUPPER MANGANESE DIAMOND LIMESTONE
Benin
Burkina Faso
Côte D`Ivoire
Gambia
Ghana
Guinea
Bissau Guinea
Liberia
Mali
Mauritania
Niger
Nigeria
Senegal
Sierra Leone
Togo
MINERALS IN WEST AFRICAMINERALS IN WEST AFRICA
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INSTITUTIONNAL FRAMEWORKINSTITUTIONNAL FRAMEWORK
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THE DIRECTION GENERALE DES MINES ET DE LA GEOLOGIE
THE DIRECTION GENERALE DES MINES ET DE LA GEOLOGIE
SODEMI SODEMI
Technical and administrative body for the implementation of the mining policy.
State owned company for Mineral project development, either alone or with interested partners.
THE MINISTRY OF MINES, PETROLEUM AND ENERGY
THE MINISTRY OF MINES, PETROLEUM AND ENERGY
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NEW VISION OF THE MINING POLICY IN COTE D’IVOIRE
NEW VISION OF THE MINING POLICY IN COTE D’IVOIRE
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Contribute to lift Côte d’Ivoire to the level of emerging countries
by 2020
MACRO ECONOMICS OBJECTIVES
Diversify internal revenues by a strong mining
sector to withstand agriculture.
Increase the contribution of the mining sector
(without hydrocarbons) to 8 % of the Gross Domestic
Product by 2025.
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Make Côte d’Ivoire:
A great Mining Country;
SUBSTANCE QUANTITY
Gold 40 tons/year
Diamond 1 000 000 carats/year
Manganese 1 000 000 tons/year
Iron
24 000 000 tons/year Pellets6 000 000 tons/year iron sponge
Tantalite 40 tons/year
Nickel/Cobalt 75 000 tons/year concentrate
OBJECTIVES BY 2025OBJECTIVES BY 2025
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IMPLEMENT DEVELOPMENT OF A METALLURGICAL INDUSTRY
Inputs supply for ferro alloys plants :National production; Sub regional productionTypes of ferro alloys plants to be implementedFerro manganese alloysFerro silicon alloysFerro chromium alloysFerro Noble alloys (aluminum, titanium, cobalt, nickel magnesium)ConstraintsAvailability of energySpecial taxation for the sector
OBJECTIVES BY 2025OBJECTIVES BY 2025
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The recovery strategy as described should enable a return to growth in 2012, with a projected rate of 8.1%, after an underperformance of -4.7% in 2011.
In 2013, the growth rate is expected to be 9% and 10% in 2014 .
THE MAHAPLEU GOLD PROJECT;
THE OUELLE GOLD PROJECT
THE FERRO MANGANESE PROJECT
EXAMPLES OF PROJECTSEXAMPLES OF PROJECTS
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Private investors are invited to take advantage of opportunities offered to
them in Côte d'Ivoire
NDP
- coherent middle term framework- with a very promising growth prospect - Many opportunities in the sectors of energy and
mining (investment needs in the sector of energy and mining : 27,3 billion USD
for 170 projects)
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Côte d'Ivoire a crossroad for regional interconnexion in the sector of energy (electric interconnexion with neighbouring countries, pipeline for distribution of petrolum and gas)
Côte d'Ivoire has also the ambition to play a key role in Africa in the field of sustainaible energy (dams, solar energy)
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Côte d’Ivoire restarted vigorously forward i and is key market in Africa for
international investors
Côte d’Ivoire
economic driving force in West Africa
Restoration of economic equilibrium implementation of structural reforms
sustained investissement flows
strong and sustainable growth national investment plan = coherent stratégic framework for
investment policy
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The private sector is expected to invest in productive capacity, especially through Public-Private partnerships .
The new investment code adopted by the Government in 2012 aims to promote the industrialization of Côte d’Ivoire through attractive tax benefits, and provisions for guarantees and enhanced protection. It has been developed with the help of the IMF and World Bank
Côte d’Ivoire is eligible at AGOHA and authorities are managing its eligibility at the Millenium Challenge Corporation (MCC) of american Congress
Canadian and Ivorian authorities have been discussing for the signature of an agreement concerning the promotion and protection of canadian investments in Côte d’Ivoire.
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Côte d’Ivoire is back
Côte d’Ivoire an emerging country by 2020
The private sector is encouraged to invest in various developement projects in Côte d’Ivoire particulary in agriculture,
mining, roads, petrolum, basic socioeconomic infrastucture.
Côte d’Ivoire a vast work site open to all and in all sectors .
In Côte d’Ivoire the best ones will win the tenders.
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THANK YOU FOR YOUR KIND ATTENTION