The Chinese business community in São Vicente, Cabo Verde, is shifting its focus towards the real estate and hospitality sectors, in anticipation of the upcoming construction of a Cruise Terminal.
Paulo Pan, the president of the Chinese Business Association in Cabo Verde, told BNN that this trend by referencing his own endeavor, the Lili Resort Hotel, which is expected to open its doors before the second half of 2024.
This 11-room hotel in Mindelo aims to lure Chinese and other global tourists to the island. Pan also pointed out that two other Chinese entrepreneurs have plans to open hotels in refurbished old houses located in the city center of Mindelo. He commended Cabo Verde for its international allure, stable environment, and conducive public policies.
The much-awaited Cruise Terminal at Porto Grande is predicted to bolster the nation’s economy and pave the way for more job opportunities. Pan encouraged the authorities to amplify investments in professional training.
The Chinese Business Association also plays a pivotal role in facilitating Cabo Verdean young entrepreneurs’ entry into the Chinese market. This includes assistance with importing equipment and promoting investments. Pan expressed his faith in the bilateral relations between Cabo Verde and China, noting that Chinese investors are exploring a range of sectors beyond trade, such as food services, product processing, renewable energy, and small-scale industries.