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Republic of Cote d'Ivoire
------------------Union – Discipline –work
CABINET OF PRESIDENT,
NATIONAL SECRETARY FOR RECONSTRUCTION
AND REINSERTION
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Presentation of the National Secretary at the
Toronto Conference 2012
Main Topic :
Leading economic changes : new growth opportunities in energy,
natural resources, infrastructure, finance and trade.
Theme of Tuesday, October 2, 2012:
Theme :
Day dedicated to Infrastructure and Natural Resources
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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STRATEGY FOR ECONOMIC RECOVERY
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 publicprivate 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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STRATEGY FOR ECONOMIC RECOVERY
1.
STABILITY OF MACROECONOMIC FRAMEWORK AND PUBLIC
FINANCES
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..
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STRATEGY FOR ECONOMIC RECOVERY
2.
IMPROVEMENT OF THE BUSINESS CLIMATE
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
competitiveness of key sectors of the economy;
the
•
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.)..
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STRATEGY FOR ECONOMIC RECOVERY
IMPROVEMENT OF THE BUSINESS CLIMATE(END)
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.
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STRATEGY FOR ECONOMIC RECOVERY
3.
•
•



REVIVAL OF PUBLIC AND PRIVATE INVESTMENT
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).
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STRATEGY FOR ECONOMIC RECOVERY
REVIVAL OF PUBLIC AND PRIVATE INVESTMENT(CONTINUED)
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.
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STRATEGY FOR ECONOMIC RECOVERY
REVIVAL OF PUBLIC AND PRIVATE INVESTMENT(CONTINUED)
•

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;
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STRATEGY FOR ECONOMIC RECOVERY
REVIVAL OF PUBLIC AND PRIVATE INVESTMENT(END)
•
•
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
o
Henri Konan BEDIE Bridge
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
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STRATEGY FOR ECONOMIC RECOVERY
4.
DIVERSIFICATION OF SOURCES OF GROWTH (SECTORS OF INFRASTUCTURE AND MINING).
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.
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STRATEGY FOR ECONOMIC RECOVERY
DIVERSIFICATION OF SOURCES OF GROWTH (SECTORS OF INFRASTUCTURE AND MINING).
-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 Sanpedro 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.
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COTE D’IVOIRE – GEOLOGICAL MAP
GEOLOGY
Sedimentary
Granit
Birimien
Green Rocks
Archeen
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GOLD BEARING POTENTIAL IN
COTE D’IVOIRE
Sabodala
Niger
Mali
Yatela
Niamey
Sadiola Hill
Loulo
Burkina
Faso
Bamako
Samira
Poura Ouagadougou
Morila
Siguiri
Syama
N
Tongon
Ity
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Angovia
Bibiani
Obotan
Obuasi
Bonikro
Abidjan
Afema
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Côte d’Ivoire
MALI
10%
BURKINA
FASO
21%
GHANA
19%
Atlantic Ocean
Au tonnes
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COTE 6
D’ IVOIRE
35 %
GUINEE
11%
15
%Birimian
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MINERALS IN WEST AFRICA
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
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INSTITUTIONNAL FRAMEWORK
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THE MINISTRY OF MINES, PETROLEUM AND
ENERGY
THE DIRECTION GENERALE DES MINES ET DE LA
GEOLOGIE
Technical and administrative body for the implementation of the
mining policy.
 SODEMI
State owned company for Mineral project development, either alone or
with interested partners.
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NEW VISION OF THE MINING POLICY IN COTE
D’IVOIRE
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MACRO ECONOMICS OBJECTIVES
Contribute to lift Côte d’Ivoire to the level of emerging countries
by 2020
 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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OBJECTIVES BY 2025
Make Côte d’Ivoire:
 A great Mining Country;
SUBSTANCE
Gold
Diamond
Manganese
Iron
Tantalite
Nickel/Cobalt
QUANTITY
40 tons/year
1 000 000 carats/year
1 000 000 tons/year
24 000 000 tons/year Pellets
6 000 000 tons/year iron sponge
40 tons/year
75 000 tons/year concentrate
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OBJECTIVES BY 2025
IMPLEMENT DEVELOPMENT OF A METALLURGICAL
INDUSTRY
Inputs supply for ferro alloys plants :
 National production;
 Sub regional production
Types of ferro alloys plants to be implemented
 Ferro manganese alloys
 Ferro silicon alloys
 Ferro chromium alloys
 Ferro Noble alloys (aluminum, titanium, cobalt, nickel magnesium)
Constraints
 Availability of energy
 Special taxation for the sector
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ECONOMIC RECOVRY :
RESTORATION OF A DYNAMIC, STRONG AND SUSTAINABLE GROWTH STARTING
IN 2012
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 .
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EXAMPLES OF PROJECTS
 THE MAHAPLEU GOLD PROJECT;
 THE OUELLE GOLD PROJECT
 THE FERRO MANGANESE PROJECT
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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
sectors .
a vast work site open to all and in all

In Côte d’Ivoire the best ones will win the tenders.
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THANK YOU FOR YOUR KIND
ATTENTION
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