Mauritania: A promising Outlook
Resources and Areas
Mauritania has significant resources for development and an extensive mineral wealth, some of which have been exploited, such as iron, copper, gold and gypsum, while others are yet to be exploited such as phosphate, sulfur and oil, where exploration is underway to extract additional quantities. Investment opportunities are available in the metallurgical industries, as well as in tourism, agro-food, chemical and other industries. Its coastal waters are among the world richest fishing ground, in addition to other investment opportunities in the agricultural and livestock sectors. Mauritania's economy depends mainly on the production and export of iron ore and the fishing sector.
Reforms implemented through 2015-2017
Mauritania has embarked on a series of reforms aimed at improving the investment climate in recent years, which can be summarized as follows:
- 2017
- Improved access to credit information by providing banks and financial institutions with online access to credit registry data.
- Strengthening minority investor protection within corporate structures and management.
- Facilitating the payment of taxes by reducing the frequency of files submission and the payment of social security contributions.
- Facilitating cross-border trade through the upgrading of the Sydonia electronic system, which reduced the time for preparation and submission of customs declarations for both exports and imports.
- 2016
- Making starting a business easier by eliminating the minimum capital requirement.
- Improved access to credit information by lowering the threshold for the minimum size of loans to be included in the credit registry’s database and by expanding borrower coverage.
- Reducing the documentary and border compliance time for importing by eliminating the preimport declaration and value attestation and making the manifest electronic.
- 2015
- Making starting a business easier by creating a one stop-shop and eliminating the publication requirement and the fee to obtain a tax identification number.
Areas of investment
Mauritania has many areas of investment, particularly:
- Metals: iron, gold, copper, and others.
- Energy: gas, oil, renewable energy.
- Fishing and its associated manufacturing and processing units.
- Agriculture and livestock.
- Desert, archaeological and recreational tourism.
- Transport, infrastructure, housing and real estate.
- Investment in the free zone of Nouadhibou which enjoys a tax and customs system that is stimulating and supportive
Foreign direct investments evolution in Mauritania in 2012 - 2016 according to the top 10 sectors (US$m)
Source: Fdi markets
Major countries investing in Mauritania, 2012-2016
|
Country |
fdi (US$m) |
Number of projects |
Number of companies |
|
Switzerland |
900 |
1 |
1 |
|
Indonesia |
270 |
1 |
1 |
|
France |
243 |
2 |
1 |
|
Nigeria |
160 |
1 |
1 |
|
Lithuania |
58 |
1 |
1 |
|
UK |
30 |
2 |
2 |
|
Qatar |
16 |
1 |
1 |
|
UAE |
15 |
1 |
1 |
|
USA |
15 |
2 |
2 |
|
Total |
1707 |
12 |
11 |
Ibid
Priorities for action
Mauritania still has a long way to go to improve its investment climate and to rehabilitate the investment climate needed by domestic and foreign investors, especially in the following key areas:
- Providing modern infrastructure in terms of energy, water, electricity and roads.
- Enhancing the independence and efficiency of the judiciary and updating the appropriate legislative frameworks for investment.
- Strengthening the private banking sector, based on appropriate legislation.
- Developing a practical plan for marketing and promotion of opportunities and areas of investment.
The following figure shows development needs at all levels.
Mauritania's ranking in the World Bank indicators for ease of doing business for 2017 among 190 countries
Source: World Bank Doing Business 2017
