Chad officially launches from the UAE the first rounds of investment talks within the National Development Plan – Chad 2030
Abu Dhabi, November 10, 2017 – The Republic of Chad officially launched from the UAE today the first rounds of investment talks within the National Development Plan – Chad 2030, under the title “Chad Connection 2030”, which targets investments worth $30 billion in various strategic fields and sectors.
The launch of the first investment round from the UAE came within the framework of the growing trade and investment relations between the two friendly countries, and based on the UAE’s leading position as a global platform for pushing international investments and attracting capital and cross-border investments.
The launch of the discussions, today within the activities of the UAE-Chad Trade and Investment Forum, which was launched in Abu Dhabi, was attended by a number of ministers, officials, investors and the business communities of the two countries.
His Excellency Taher Hamid Nguelin, Minister of Finance, Planning and International Cooperation in Chad, said that his country provides a set of incentives to attract private and foreign investments within the framework of the “Connexion 2030” vision, which includes, for example, tax exemptions for priority sectors and partnership projects between the public and private sectors, accelerating regulatory procedures for strategic projects, in addition to providing access to priority economic zones and corridors.
He added that his country’s government had taken major institutional and legislative reforms to improve the business climate and enhance investor confidence. He said: “We have already begun to witness the results of the changes through an increasing influx of foreign direct investments, and we expect the National Development Plan to contribute to strengthening this trend further.”
The plan is based on 4 main axes of intervention implemented through 17 programs that include 268 projects and reforms, and aims to achieve a profound and comprehensive economic and social transformation in Chad by “accelerating the development of vital strategic infrastructure, expanding the scope of electricity and water throughout the country, digitizing the economy, strengthening transportation networks and international corridors, and improving navigation in the major lakes and rivers, in addition to strengthening institutions to ensure effective and sustainable management of public services.”
The plan also aims to strengthen social policies, especially in the areas of education, youth, health, vocational training and employment, in a way that enhances the development of human capital and consolidates social integration, as well as expanding and diversifying the base of the economy and strengthening the slogan “Made in Chad” by developing the export-oriented industrial sectors, agriculture, livestock raising, fishing, and the oil, mining and tourism sectors, in addition to improving the business environment, activating economic diplomacy and enhancing the country’s attractiveness to investors.
The plan aspires to achieve real growth in the gross domestic product of the Republic of Chad at an annual rate of 8% between 2025 and 2030, enabling Chad to join the ranks of middle-income countries, by creating more wealth and job opportunities in the private sector and raising the percentage of access to electricity in urban areas to 90% and at the national level to 60%.
The plan also aspires to provide safe drinking water for an additional 11 million people, raise the average life expectancy by at least 8 years, significantly expand the road network, double agricultural production, increase the penetration rate of mobile phones from 65% to 80%, reduce maternal and newborn mortality by 50%, and raise the primary school enrollment rate from 43% to 80%.
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