Situation Before

Burkina Faso is a landlocked country in West Africa. Industry accounts for only 20% of the country’s GDP and 45% of the population lives below the poverty line. Small and mediumsized enterprises are confronted with a technological vacuum and have virtually no access to markets and new technologies. Since 1991, the Government of Burkina Faso, supported by international institutions, has been trying to implement a new economic strategy based on the structural adjustment of the country and focused on liberalization of the economic environment and private sector development. An Integrated Programme initiated by UNIDO will contribute to building institutional capacities for investment promotion. As part of this broader initiative, UNIDO coordinated the organizing of a forum to draw the attention of the international investment community to opportunities in the country.

Situation After

The Forum "Invest in Burkina Faso 2001”, organized by UNIDO, the Government of Burkina Faso and the Centre for Development of Enterprise (CDE) in Brussels, enabled the country to promote its image directly to companies from America, Europe, Africa and Asia. 6000 companies received an information package on the business and investment environment in Burkina Faso and the investment promotion forum and a specific web site was created to target potential investors. The Forum took place in June 2001 and facilitated individual meetings between businessmen from Burkina Faso and foreign investors and discussion of specific investment projects. UNIDO in cooperation with the Burkinabe General Department of Industrial Development (DGDI) and the Burkinabe embassies used its network of Investment and Technology Promotion Offices (ITPO) and field representatives to distribute information about the country. Promotional tours took place in France, Belgium, Luxembourg, UK and Canada to promote Burkina Faso as an investment destination and encourage participation at the Forum.

Concrete Results

"Invest in Burkina Faso 2001" was attended by 123 local companies and 106 foreign companies Belgium, Canada, France, Morocco, and the United Kingdom 22 international financial and other institutions participated in the Forum: World Bank, African Development Bank, European Investment Bank, European Union and the French Development Agency Some 600 meetings were organized using SHARE software developed by UNIDO EXCHANGE 104 projects were identified in the agro-industry, transport, textiles, and construction sectors Loans from Spanish companies to upgrade technology of Burkinabe enterprises are under negotiation Four joint-ventures and two factory projects with Belgian and French companies are in progress or under discussion Creation of "Burkina Initiative”, an investment club in Ouagadougou, the capital of Burkina Faso.

Donors

Austria
UNIDO