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Mauritania reveals its potential on January 11 at a business forum chaired by its Prime Minister Mohamed Ould Bilal Messoud
UNITED ARAB EMIRATES, Dubai : While Mauritania has suffered the full economic consequences of the Covid-19 crisis, the country is now resuming growth, embarking on a path of resilient recovery.
The “Business Forum: “Mauritania, the New investment Frontier” took place on Jan 11, 2022 within the framework of Expo 2020 in Dubai, to deal with the economic development of Mauritania in the presence of a Mauritanian ministerial delegation. The delegation will be accompanied by the National Union of Mauritanian Patronage, strongly committed to this forum, with the presence of the President of the local business community, Mohamed Zein Abidine.
The Mauritanian official representatives also include the Minister Ousmane Mamoudou Kane in charge of the economy as well as the Minister of Agriculture, Sidna Ould Ahmed Ely, the Minister of fisheries and maritime economy Dy Ould Zein, who will speak alongside other ministerial representatives and Mauritanian officials responsible for the economy, in particular the President of the Nouadhibou Free Zone Authority, Mohamed Ali Ould Sidi Mohamed.
The UAE government is reportedly represented by the Minister of Industry and Technology, Sultan bin Ahmed Al Jaber.
The forum will also be an opportunity for the economic intelligence and consulting firm Oxford Business Group (OBG) to publish its very first study devoted to the Mauritanian economic outlook, The Report: Mauritania 2022 Economic Briefing.
Rich in natural resources, Mauritania is working to create more added value for its traditional sectors, in particular the mining, agriculture and fishing sectors while seeking new sources of income; in order to achieve sustainable, inclusive growth and foster job creation, especially for young people.
OBG’s annual report analyses in detail the opportunities and challenges present in each strategic sector, more particularly agriculture, fishing, mining, energy and communications, and presents development prospects, major issues and market trends, focusing in particular on processing activities and renewable energies.
The country’s response in minimising the impact of the crisis on the economy and ensuring a resilient recovery as well as the strategy adopted to attract foreign investment, driven by the implementation of a number of reforms and the existence of several large infrastructure projects, occupy an important place in the study by the economic intelligence firm.
The Report : Mauritania 2022 Economic Briefing contains a viewpoint by Mauritanian President Mohamed Ould Ghazouani, which presents the country’s post-Covid recovery strategy. Emphasizing the exploitation of natural resources and the active participation of the private sector, it should also, through increased public investment, promote the objectives of the country’s medium-term development strategy, called the Accelerated Growth and Prosperity (SCAPP 2016-2030) and lead to deep structural changes.
There are also three interviews with important faces of the political and economic life of the country. Ousmane Mamoudou Kane, Mauritanian Minister of Economic Affairs and Promotion of Productive Sectors, discusses the measures put in place by the government to encourage investment, improve the business climate, develop infrastructure and support businesses, especially SMEs. Gagan Gupta, Founder and CEO of Arise, also answered OBG’s questions. As for Aïssata Lam, Director General of the Investment Promotion Agency (APIM), she evokes the new era which is opening for Mauritania and the many opportunities for economic cooperation, citing the hydrocarbon sector, on the way to play a leading role in the Mauritanian economy with the first deliveries of LNG from the Grande Tortue Ahmeyim field scheduled for 2023, and the fishery products processing sector, particularly in the Nouadhibou Free Zone. “It’s time to turn local potential into real value creation,” she said, emphasizing APIM’s role in this endeavor. “Mauritania is relatively little known, it is our mission to remedy it [by] repositioning it as an investment destination,” she adds, before listing the assets that make the country an attractive destination for investors: “strong legislative framework, political stability and predictability of laws and policies. “
Karine Loehman, Director General of OBG for Africa, welcomed the publication of this new report, which sheds welcome light on the Mauritanian economy and the real prospects for investments in the country, declaring: “If The near future has its share of uncertainties, with in particular the Omicron variant which could prolong the pandemic and delay the reforms undertaken, Mauritania has proven its resilience and its commitment to developing its economy. There are many opportunities for win-win partnerships for international companies in Mauritania.”
The focus report is now available to view and download at: https://oxfordbusinessgroup.com/blog/bernardo-bruzzone/focus-reports/report-mauritania-s-strategies-attract-foreign-investment
Click here to subscribe to Oxford Business Group’s latest content: http://www.oxfordbusinessgroup.com/country-reports
About Oxford Business Group
Oxford Business Group (OBG) is a global research and advisory company with a presence in over 30 countries, spanning Africa, the Middle East, Asia and the Americas. It is recognised internationally as a distinctive and respected provider of on-the-ground intelligence on world’s fastest-growing markets, termed The Yellow Slice, in reference to OBG’s corporate colour.
Through its range of products – Economic News and Views; OBG CEO Surveys; OBG Events and Conferences; Global Platform, which hosts exclusive video interviews; and The Report publications – as well as its Advisory division, OBG offers comprehensive and accurate analysis of macroeconomic and sector-level developments for sound investment opportunities and business decisions.
OBG provides business intelligence to its subscribers through multiple platforms, including its direct 6 million verified subscribers, Dow Jones Factiva subscribers, the Bloomberg Professional Services subscribers, Refinitiv’s (previously Thomson Reuters) Eikon subscribers and more.
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