City of Praia, July 25th 2019. The Deputy Prime-Minister and Minister of Finance, Olavo Correia announced that the Government will create a Special Economic Zone for Technologies (ZEET) and that it will be located at the Cabo Verde Technology Park, including the neighboring poles and areas of “Castelon Vale” in the city of Praia and of “Julion Vale” in Mindelo.

According to Olavo Correia, “in this area, everything related with unnecessary additional costs will be free, free of tax for companies, free of tax regarding VAT, free of tax regarding customs costs, para-fiscal incentives, as long as we safeguard what are our engagements in complying with the international fiscal rules”.

The Minister made these statements during the 3rd Meeting of the Advisory Board of the Cabo Verde Technology Park and reaffirmed in statement to the press after chairing in Praia the workshop “Promoting the 5th Generation of Mobile Communications in Cabo Verde”.

“Castelon Vale and Julion Vale” are technological real state projects complementing the Cabo Verde Technological Park, and are designed to host technology companies that intend to profit the Market-Companies-Employment-Capacity-building ecosystem created with the Cabo Verde Technology Park activities.

A delegation from the Bringbuys Web Technology from Macau was in Cabo Verde, from 13 to 15 June, to procced with the negotiations for the installation of a technology pole in Cabo Verde.

The Bringbuys Web Technology intends to enter the technological market of other counties in West Africa through the technological hub that Cabo Verde is implementing as plataform for cloud computing services. This project is aligned with the country’s digital transformation strategic plan.

The choice of Cabo Verde for the construction of the pole is, according to the President of Cabo Verde TradeInvest, Ana Barber, due to the fact that the Bringbuys Web Technology sees Cabo Verde as “an opportunity for business expansion on the African continent”.

Praia, July 17th 2019. The Interbank and Payment System Company – SISP will build a new head office at Castelon Vale. The infrastructure will be built in an area of 2.500 m2, in a functional and iconic architecture, environmentally and energetically sustainable where a part of the building will host high security zones, specially:

  • A Data Center Tier IV
  • A Center for Customizing Electronic Documents, certified by the PCI norms – Payment Card Industry and ICAO e-Passport Security Standards, which will be the building’s two most critical and important areas.

Castelon Vale is a technological real state zone complementing the Technology Park, near the Airport area, the Achada Grande Industrial Zone and the Port of Praia. The “Castelon Vale” project was developed together with the Municipality of Praia and has the slogan of transforming “Real State to Brain State” and aims to profit the neighborhood of the Technology Park to create an allotment to host companies.

Praia, July 3rd 2019. It is a big investment that will support the improvement of the telecommunications structure in Cabo Verde. It will enable the implementation of 4G and allow an even faster transition to 5G.

With this new cable, a second alternative is possible, thus eliminating the dependence on a single submarine cable. This was another important memorandum of understanding signed in the framework of the Investments Forum.

The Cabo Verde Investment Forum (CVIF19) was held on July 1, 2, and 3 on the island of Sal and had the main objectives of promoting Cabo Verde as an investment and business destination in areas such as tourism, infrastructure, renewable energy, maritime economy, creative industries, agro-business and communication technologies.

Businessmen from around the world, CEOs and representatives from financial institutions, business community from the Cabo Verdean diaspora, Ministers and other Cabo Verde Government representatives and representatives from Cabo Verdean and international Chambers of Commerce, Tourism and Industry were present in these events.