At present, about 5,000 Chinese live in Côte d'Ivoire, mainly in major cities such as Abidjan, Yamoussoukro, Bouaké and Gohogo. There are more than 50 Chinese-funded enterprises, and there are about 2,000 employees in Chinese-funded enterprises. There are about 26 Chinese-funded enterprises mainly in the project contracting industry, and there are 3 investment enterprises, which are China Geological Mining Corporation, the credibility cement plant, the rubber plantation and processing enterprises controlled by Sinochem Group.
The larger Chinese enterprises in Côte d'Ivoire are: Huawei Technologies Ivorian subsidiary, China Geology and Mining Corporation, China Harbor Co., Ltd., China Water Conservancy and Hydropower Construction Group, China Henan International Cooperation Co., Ltd., China Machinery Industry Group Co., Ltd., China Geological Group Co., Ltd., China Road and Bridge Engineering Co., Ltd., China State Construction Group Co., Ltd., and China Civil Engineering Group Co., Ltd.
According to statistics, in 2020, Chinese-funded enterprises signed 44 new contracts in Côte d'Ivoire, with a new contract amount of 5.985 billion US dollars and a turnover of 917 million US dollars. A total of 1,080 workers of various types were dispatched, and 1,407 workers were dispatched in Côte d'Ivoire at the end of the year.
The business scope of Chinese-funded enterprises in Côte d'Ivoire mainly involves engineering contracting, mining, communications, forestry, agriculture, agricultural product processing, agricultural machinery, cement and other industries. At present, there are about 100 Chinese enterprises registered in Côte d'Ivoire.
Private enterprises and individual businessmen invest in the production and trade of steel, fisheries, footwear, building materials, processed food, detergents, wigs, agricultural machinery and other products in Côte d'Ivoire.
Chinese currently operates in Côte d'Ivoire: supermarkets, hotels, restaurants, pharmacies and clinics.
In large Chinese-funded enterprises in Côte d'Ivoire, construction engineers are about 16,000-20,000 yuan, and mining engineers are about 15,000-25,000 yuan. Carpenters, bricklayers, and reinforcement workers have a monthly salary of about 15,000-18,000.
In Chinese-funded enterprises Chinese wages are generally 1.5 times to 2 times higher than the same position in China.
At present, most Chinese-funded enterprises in Côte d'Ivoire investment projects have poor returns, many of which have not achieved the expected investment results, and even many enterprises operate at a loss.
Investment in Côte d'Ivoire is relatively risky, pay attention to risk prevention, and the credit status of local businessmen is uneven, and payment and delivery are not timely. Don't invest lightly, and invest after fully understanding the local situation. In trade, we must also adhere to the principle of paying first and shipping later, reduce risks, and pay attention to preventing locals from Chinese fraud.
Côte d'Ivoire, which means "Ivory Coast" in French, is located on the shores of the Gulf of Guinea in West Africa, with a coastline of about 500 kilometers. Located near the equator, the climate is hot. The country covers an area of 322,000 square kilometers, slightly rectangular, about 600 kilometers long from north to south, and more than 500 kilometers wide from east to west. With a population of 24.9 million, the economic capital is Abidjan and the political capital is Yamoussoukro.
The official language of Côte d'Ivoire is French. There are 69 tribes in Côte d'Ivoire, each with its own language but no written language.
Côte d'Ivoire has been influenced by French colonization for a long time, and most of its laws are based on French law, the legal and judicial system is relatively sound, and the local people have a strong sense of rights protection.
The main industries in Côte d'Ivoire are agriculture, mining, food processing, construction and public works, petroleum processing, energy, transport, communications and commerce.
Côte d'Ivoire is also home to the headquarters of the African Development Bank. Côte d'Ivoire is an important agricultural country in West Africa, rich in cash crops such as cocoa, cashew nuts, coffee, oil palm, rubber, cotton and other cash crops, and the export of cash crops is the main source of income for the country's economy. Cocoa and coffee account for 15% of the country's GDP, Côte d'Ivoire is the world's largest producer and exporter of cocoa, accounting for 40% of global supply, and Côte d'Ivoire is also the world's largest cashew producer.
Côte d'Ivoire is rich in mineral resources, with major mineral deposits of diamonds, gold, manganese, nickel, uranium, iron, oil and natural gas.
At present, The oil reserves of Côte d'Ivoire are about 220 million barrels, and the natural gas reserves are 1.1 trillion cubic meters, mainly distributed in the coastal Gulf of Guinea, with an area of 53,000 square kilometers of oil and gas fields.
Côte d'Ivoire is rich in forest resources, rich in rare tree species such as African mahogany, sandalwood, ilocos, Azobe, Makore, Flamire and Avodire.
Côte d'Ivoire has more than 500 kilometers of coastline, 150,000 hectares of lagoons and about 350,000 hectares of rivers and lakes, fishery resources are relatively rich, tuna is Côte d'Ivoire's largest export of aquatic products, Côte d'Ivoire is the world's second largest tuna exporter after Japan, with an annual export volume of about 270,000 tons, mainly exported to the European Union.
In terms of the security situation, There are still security risks such as terrorist attacks in Côte d'Ivoire, especially in the western and northern areas bordering Mali, Burkina Faso, Liberia and other countries, and the non-traditional security situation has become more and more serious, and armed attacks have occurred from time to time. The overall public security situation is better, but there are still areas with poor public security conditions, theft and robbery incidents still occur from time to time, we must pay attention to precautions, and residences should not be easily entered by outsiders.
Côte d'Ivoire is a high-prevalence country for malaria, with a malaria prevalence rate of 16 per cent and a mortality rate of about 18 per cent. According to the statistics of the World Health Organization in 2016, in addition to malaria, the main infectious diseases in the statistics of the fatality rate in Côte d'Ivoire include AIDS, lower respiratory tract infections, diarrhea-related diseases (such as dysentery, cholera, etc.), tuberculosis, yellow fever, dengue fever and so on.
In 2021, the total value of China's exports to Côte d'Ivoire will be US$376221 million, and the total value of China's imports from Côte d'Ivoire will be US$104407 million. China's trade surplus with Côte d'Ivoire is $271814 million.
The main categories of Chinese exports to Côte d'Ivoire include daily necessities, electrical appliances, machinery, iron and steel and their manufactured goods, automobiles, chemical products, fish, plastic products, rubber products, tiles, glass and stone.
The main categories of goods imported by China from Côte d'Ivoire include rubber, cotton, cocoa, fish, etc.
According to data released by the International Monetary Fund in April 2022, the total GDP of Côte d'Ivoire in 2021 is 69.8 billion US dollars, and the per capita GDP of Côte d'Ivoire is 2522 US dollars, ranking 17th in Africa's per capita GDP.
The monthly wage standard for ordinary workers is about 120 US dollars / month, the technical workers are 200 ~ 300 US dollars / month, and the secretarial, research, and marketing personnel with university degrees are 500 to 800 US dollars / month. The social security premium is 11.2% of the salary (the employer pays 8%, and the individual pays 3.2%).
About author:: After graduation, I worked in an import and export company of a central enterprise, and have been responsible for African projects and travel to Africa all year round. He has been stationed in Tanzania for 4 years, Uganda for 1 year, has been to more than 30 countries in Africa, is familiar with Africa, and is now retired.
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Reference: Guide to investment cooperation written by the Chinese Economic and Commercial Office in Côte d'Ivoire
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