IIF: Kuwait GDP Growth at 4.4% in 2011
IIF forecasts Kuwait to grow at 4.4% in 2011.
imported 2024-03-17 17:43:07
IIF forecasts Kuwait to grow at 4.4% in 2011.
SIFCA’s partners are Wilmar (Wilmar International Limited is an investment holding company engaged in the provision of management services to its subsidiaries. It operates in five segments: palm and laurics comprises the merchandising and processing of palm oil and laurics related products) and Olam (Olam International Limited operates as a supply chain manager and processor of agricultural products and food ingredients primarily in Asia, the Middle East, Australia, and Africa. The company engages in sourcing, processing, packaging, and merchandising agricultural products. It operates in five segments: Edible Nuts, Spices and Beans).
The biggest challenges for SIFCA and many other regional companies is smuggling and not respecting the free trade agreements. ECOWAS region still needs to develop and enforce the free trade between the member countries. Second issue is smuggling, due to the post-electoral crisis in Côte d’Ivoire the borders are loosely secured; widespread smuggling of sugar from South America and palm oil from Asia, free of any taxes/duties is rampant. The local companies are at the disadvantage. Despite the challenges, SIFCA remains optimistic for the future. With security restore the border issue should be resolved.
The CEO of SIFCA reveals the investment strategy of the one of the leading company in Cote d’Ivoire. The company invests while economic conjuncture is favorable (i.e. elevated prices of commodities – rubber, palm oil and sugar) and divest when the prices are low. Currently, SIFCA is investing in improving the capacities and efficiencies for the palm oil refineries and replanting the palm oil farms to reduce costs.
The leading group in Côte d’Ivoire, SIFCA is bullish on the future of this African country. Bertrand Vignes, the CEO says “If stability continues the country is to become the future engine of the regional growth.” The largest economy in francophone West Africa will trigger the growth of the surrounding economies. The country has to invest in infrastructure to shorten the gap between Asia and Africa.
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