The Government of Cabo Verde announces the creation of Special Economic Zone for Technologies (ZEET)

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.