Ivory Coast or Cote d’ivoire is a West African country located between Ghana and Liberia. Between the 1960s and 1970s, the country held a strong position economically through its cocoa and coffee production. However, the economic crisis encountered by the country in the 1980s led it to a period of social and political unrest. Today, the Ivorian economy stands as mainly marketing-based and depending greatly on its agriculture sector.
On the other hand, Ivory Coast vigorously encourages foreign investment. France is seen to be the most significant foreign investor here. Since the year 2006, the country’s oil and gas production has also become important for its economy as well as its investment sector. Various private companies are engaged in oil exploration in the offshore of Ivory Coast. Ivory Coast is known more of as an oil refining country rather than an oil producing country. Its offshore oil fields are not as rich as those of Nigeria, but still it holds a modestly challenging place in the global oil industry.
Investment opportunities in Ivory Coast are abundant and based on capitalism where private units are actively inspired to invest. Foreign investment accounts for almost 40% of total capita income of the Ivoirian firms.
The greatest opportunity in investing is seen in the real estate of Ivory Coast. With the introduction of stability in the country, the requirement for property has greatly increased. There is however, a wide gap between the supply and demand which is becoming progressively apparent with the passing days. To counteract this problem, the Ministry of Construction and Urbanism has begun an operation to provide land in large urban areas. For this reason, this area is a healthy chance for foreign investors.As opportunities for investment in Ivory Coast are ample, there is also an important place for translation service companies in the country. Majority of the Ivorian people speak French because of which mainly the investment sector sees France as a significant investor. French Translation services will help the other foreign investors to actively engage in investment activities in the country.
Considering the vigorous encouragement of foreign investment in Ivory Coast, translation services firms enjoy and occupy a special place in the country as a chance to further boost the foreign investment system here. Translators can play a huge and significant role in the communication between the foreign investors and the local people and opportunities for investment can be furthered for the betterment of Ivory Coast in the long run.