Summary of the Text: Mauritania‘s Economic Growth & the Role of APIM
This text outlines mauritania’s economic challenges and opportunities, highlighting the crucial role of the Agency for Investment Promotion in mauritania (APIM) in driving positive change. here’s a breakdown of the key points:
Challenges:
* SME Financing Gap: Small and Medium enterprises (SMEs),the backbone of the Mauritanian economy,face significant difficulty accessing financing,receiving only 12% of bank loans compared to 88% for large companies.
* Limited Inclusion: Constraints related to training, formalization, and inclusion of women and young people hinder their participation in value chains.
* Low Financial Inclusion: Only 20% of the adult population has a bank account, especially impacting women and limiting investment and innovation.
* Underutilized Support: Existing support policies (training, simplified procedures, capacity building) aren’t fully leveraged for structural economic transformation.
opportunities & Initiatives:
* National Digital Agenda (2022-2025): Aims to create 15,000 jobs in the digital economy (4-5% of GDP) and improve financial inclusion. Focuses on building ecosystems through incubators and supporting the emerging private sector.
* APIM’s Success: The APIM has been remarkably triumphant in improving the business climate, attracting investment, and promoting job creation. Key strategies include:
* Tailor-made investor support: Providing customized assistance to both national and foreign investors.
* One-stop shop: Simplifying administrative procedures.
* Digital tools: Modernizing processes for faster project realization.
* Project Bank: Developing a portfolio of 125 structuring projects in key sectors (energy, industry, infrastructure).
* Sectoral Observatory: Promoting investment opportunities.
* APIM’s Achievements (2022-2026 Strategic Plan):
* 15% annual increase in Foreign Direct Investment (FDI).
* Creation of over 5,000 direct jobs.
Recommendations for Future Growth:
* Scale up SME Support: Increase formalization and certification of SMEs.
* Regional & International Integration: Facilitate SME integration into regional and international value chains.
* Equitable Financing: Improve access to financing, especially for women and young entrepreneurs, through innovative programs.
* Territorial Articulation: Focus on energy transition, digital development, and agro-industry, while building climate resilience.
* Strategic Coordination: Strengthen strategic coordination,resource management,and a shared vision among all stakeholders.
the text presents a picture of Mauritania as a country with significant potential, actively working to overcome economic challenges. The APIM is positioned as a key driver of this progress, but sustained and coordinated efforts are needed to achieve truly inclusive and sustainable growth.