Cape Verde government aims to eliminate economic disparities between islands

The Cape Verdean government acknowledges significant economic disparities among its islands and is taking corrective measures.

Although social policies have made progress, the Minister of State, National Defense, and Parliamentary Affairs, Janine Lélis, emphasized the “great asymmetry” in economic development across the islands.

To address this, two programs have been proposed.

The first is an economic and productive development program funded by the Luxembourg Cooperation with a budget of approximately 600 million escudos  (US$6 million).

The program aims to enhance the islands’ potential. Another measure is an instrument to correct asymmetries, benefiting smaller market islands such as Brava, Maio, and São Nicolau.

It provides tax incentives and support in hiring professionals to overcome challenges.

All municipalities were evaluated, confirming the trend of polarized development centered around Sal, São Vicente, Boavista, and Santiago.

The National Institute of Statistics will release a report on their findings, highlighting the need for convergence among the remaining islands.

Herménio Fernandes, president of the National Association of Municipalities, expressed optimism about the proposed guidelines. He emphasized the urgency to mobilize resources and implement actions for development across all islands and municipalities.

Formalizing the economy is a significant challenge in Cape Verde.

This process aims to alleviate poverty, enhance competitiveness in municipal territories, and regulate economic activities.

It focuses on formalization to provide social protection for workers and increase income for professional classes.

The government and municipalities are committed to working together, emphasizing planning and concrete actions to improve competitiveness and the business environment throughout the country.

The Territorial Concertation Council, a consultative body, is crucial in coordinating local and regional development policies and fostering partnerships between the government, municipalities, and regions.

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