Investment Opportunities in Comoros
Business opportunities in Comoros islands
Union of Comoros is located betweent the northern entry of the Mozambique Channel, eastern of Africa and northern of Madagascar. Comoros archipelago is composed by four islands with 2236 km2 of area : Moheli, Anjouan, Grande – Comore and Mayotte.
The prevailing weather is tropical. From november to may the climate is hot-humid and from June to October it is dry and cool. The annualy average temperature is 25°c.
The officila languges are: comorian, french and arab. Comorian language is from swahili and arab.
Comorian culture is derived from african and arab-muslim roots. Family structure forms the base and many decisions are taken by the family organization.Feudalism is the current social model but exchanges have gradually the society.
GDP per inhabitant in 2005 is around 361US dollars. Agricultural economy employs 40% of GDP and 70% of the population. Vanilla and ylang-ylang are the most important exported resources. Because of competition and archaic farming methods of production.
Most principal and regional agreements :
Charter on custom guarantee
Charter on EIM
Charter on CMT
Charter on visa suppression
Charter signed by COMESA ;
Charter on western eastern african women entrepreneurs
Goods from Comesa countries are taxed 0%.
Investment Business Opportunities
Domestical research studies show that fishing and tourism are the most important sectors for investments. Indian Ocean Commission runns couples studies for the indian ocean regions. But with Internet high speed, there is not yet studies on the digital economy.
Many agreements are signed between the comorian government and most of persian gulf countries for relanching public infrastructure, energy and banking.
A new law has encourage the centralisation of all creating processes of launching business – « Guichet unique ». NAPIC has targetted investments on banking and tourism.
Since 2006, the comorian government is privatizing state-owned companies and gives his agreements in order to increase the economics operators in mobile phone, banking and medias.
Government is favourable to encourage investments on industrial fishing which can create jobs and help the country to reduce his importation on fish products.
A new law just promulgated to give citizenship for who bring up funds dedicated to the employment and the creating of national prosperity.
According to the last referendum organized the 18th of May 2009, 92,32% of the population approved the standardization of the constitution in order to give more political stability and prepare the country to receive direct foreign investments.