Côte d'Ivoire - Country Commercial Guide
Investment Climate Statement (ICS)

This information is derived from the State Department’s Office of Investment Affairs’ Investment Climate Statement;  EB-ICS-DL@state.gov.

Last published date: 2021-10-11

The U.S. Department of State Investment Climate Statements provide information on the business climates of more than 170 economies and are prepared by economic officers stationed in embassies and posts around the world.  They analyze a variety of economies that are or could be markets for U.S. businesses.

Topics include Openness to Investment, Legal and Regulatory systems, Dispute Resolution, Intellectual Property Rights, Transparency, Performance Requirements, State-Owned Enterprises, Responsible Business Conduct, and Corruption.

These statements highlight persistent barriers to further U.S. investment.  Addressing these barriers would expand high-quality, private sector-led investment in infrastructure, further women’s economic empowerment, and facilitate a healthy business environment for the digital economy.  To access the ICS, visit the U.S. Department of State Investment Climate Statement website.

Côte d’Ivoire offers a fertile environment for U.S. investment, and the Ivoirian government is keen to deepen its commercial cooperation with the United States. The Ivoirian and foreign business community in Côte d’Ivoire considers the 2018 investment code generous with incentives and few restrictions on foreign investors. The ongoing COVID-19 pandemic slowed the economy in 2020 and created new financial burdens for the government as it sought to put health mitigation and economic stimulus measures in place. International organizations such as the IMF and World Bank see some cause for optimism for a recovery in 2021 and 2022. According to the IMF, Côte d’Ivoire’s GDP growth fell from 6.5 percent in 2019 to 1.8 percent in 2020, with a return to growth at a more robust 6.2 percent projected for 2021.

U.S. businesses operate successfully in the following Ivoirian sectors: oil and gas exploration and production; agriculture and value-added agribusiness processing; power generation and renewable energy; IT services; digital economy; banking; insurance; and infrastructure. In 2020, Côte d’Ivoire maintained its position of 110 out of 190 economies in the World Bank’s Doing Business ranking. Côte d’Ivoire was eleventh among the 48 sub-Saharan Africa countries, notably coming in ahead of Ghana, Senegal, and Nigeria.

Economically, Côte d’Ivoire is among Africa’s fastest growing economies and is the largest economy in francophone Africa, attracting regional migrant labor. Also, home to the headquarters of the African Development Bank, Côte d’Ivoire attracts a significant expatriate professional community.

Doing business with the government remains a significant challenge. The government has awarded a number of sole-source contracts without competition and at times disregarded objective evaluations on competitive tenders. An overly complicated tax system and a slow, opaque government decision-making process hinder investment. Other challenges include weak access to credit for small businesses, corruption, and the need to broaden the tax base to relieve some of the tax-paying burden on businesses. The government is introducing a local-content law for the oil and gas sector that, once passed, will put additional requirements for local hiring and procurement on companies operating in that sector.