Economical information

Mali, where the government is actively pushing economic liberalization, recorded an economic growth rate of 9.7 % for the 2002 financial year, and is currently seeking to develop various industries. Mali's primary industries are agriculture and farming. Agriculture is practiced in the south and in the Niger River inland delta, where corn, cotton, rice, Sugarcane, peanuts and other crops are cultivated. The list of principal exports includes peanuts, cotton, livestock and hides (cattle, goat, etc.), and gold.

Mineral resources

Once prospering from the gold trade, Mali is today recapturing its old standing as the Empire of Gold. Recent discoveries of new gold deposits have resulted in Mali's gold production increasing four-fold over the past five years. Mali currently ranks third in Africa in terms of gold production behind South Africa and Ghana. Gold now boasts the second largest export earnings after cotton, gold export being a key industry supporting the Malian economy. Projections are for substantial amounts of gold to be produced from the four areas of Sadiola, Syama, Morila and Yatela, all of which are still at a development stage. Foreign investment, which has dramatically expanded as a result of the Malian government's relaxing of investment regulations, has contributed greatly to exploitation of these resources.

Other Mineral Resources

While gold is currently the top-ranked mineral export, much is expected of as yet unexploited resources such as bauxite, uranium, iron ore, and oil.

Click here to view a presentation entitled 'Overview of the Petroleum Potential of Mali.' This presentation was delivered by the Honorary Consul Max de Vietri on 29th November 2004 as a conference in Houston. It is available courtest of Baraka Petroleum Ltd, a perth based petroleum company that operates in Mali.'

Agricultural product

Mali has approximately 46 million hectares of arable land, and is known as the second largest cotton exporter in Africa after Egypt. In these last few years, more than 600 thousand tons of cotton has been produced annually, Mali's gross domestic product now revolving around cotton production. In addition to cotton export, the cotton processing industry is also currently being developed, foreign investment in this direction being greatly welcomed.

Other Agricultural Produce

The main agricultural produce is corn and other cereals for domestic consumption. Rice production is on the increase following the development of areas on the Niger River upstream from the capital Bamako. Fruits such as mango and orange, a variety of different potatoes, and 4,000 tons annually of honey and 200 tons annually of beeswax are produced. Mali's agricultural industry, currently in the process of industrialization, is one sphere that has long awaited foreign investment and technological assistance.

Livestock product

Stock-raising is practiced mainly by the Fulani and Tuareg people, and amounts to seven million head of cattle, six million head of sheep, nine million head of goat and 300 thousand head of camel. Apart from livestock, over two million head of poultry are raised. Each of these figures for livestock and poultry are respectively the highest in West Africa. Pastoral nomadism is the main form of farming, the herders migrating with their animals across vast tracts of West Africa. Stock-raising practices are currently undergoing industrialization, with hides and other processed goods now exported.

Fish product

Fishing, centering on the Niger and Senegal Rivers, is practiced by the Somono and Bozo people. Fifteen thousand tons of smoked fish is produced annually, some of which is exported to neighboring countries.

Investment from overseas

Reform of Mali's Investment Environment, Foreign Investment has been limited until recent years, but there is now investment in steel by Japan, Australia, Canada and South Africa, and in manufacturing and processed foods by France, Germany and China. Investment figures reveal a dramatically expanding trend in manufacturing. Mali presents extremely attractive business opportunities due to its political stability and excellent administrative body, its participation in WAEMU (West African Economic and Monetary Union), its huge potential in terms of natural resources and agriculture, and above all its low labor and other costs. Predictions are for growth in a variety of directions into the future.

Infrastructure maintenance

Emphasis has recently been placed on improving infrastructure such as transport means, and water supply and sewerage systems. This has led to increasing demands for human, machine and material resources. While a landlocked country, Mali's position as a strategic transport link for neighboring countries has seen significant reforms in transport infrastructure over the past ten years. At present, close to one third of all maintained roads are paved, water transportation is also available, and an international airport as well as many other airports and airstrips are being constructed. A telecommunications environment that permits communication anywhere in the world, domestic and international banking systems, and a financial environment that allows foreign exchange have also been established.

Communications

Investment Procedure

Creation of free companies
Free companies are those subjected to free zones regulations as under article 14 of Law n*91-048/AN-RW dated Februry 26th 1991 relating to Code of investment.These regulations apply to invesments made by promoters regardless of their nationality in mainly export oriented activities.Free companies on account of their activities are exempted from all taxes,duties and taxations of a fiscal,additional,and customs nature,for a 30 years period.However,such companies remain subject to common law regulations for sales made on the national territory.The foreign staff hired by a free company is subject to a fixed tax regulation on the global income of 15% of the amount of his wages.Commercial ties among free companies and those established on the national territory are governed by foreign trade arrangements.Free companies, in the course of their exploitation are subject to the following requirements:

The commission can use the services of any appropriate department depending on the nature of the projects on the agenda. The secretariat is provided by the Single Counter. The approval deadline for a free company is at thirty working days from the date of the submission of document.Free companies' apprpoval is granted by order of the Minister of Industy.Free companies are registered in Mali at National Center for the Promotion of Investment.

THE SINGLE COUNTER

INVESTORS,TO CARRY OUT ADMINISTRATIVE FORMALITIES FOR THE CREATION OF ENTERPRISES ,GO TO THE SINGLE COUNTER LOCATED AT THE NATIONAL CENTER FOR THE PROMOTION OF INVESTMENTS.

WHAT IS THE SINGLE COUNTER?

The Single counter is a structure where all administrative formalities required for the creation of enterprises are carried out, so that investors don't have to move from one office to another, which can sometimes be source of delay.

WHAT ARE THE OBJECTIVES OF THE SINGLE COUNTER?

Among other objectives, we have:

WHAT ARE SERVICES PROVIDED BY SINGLE COUNTER?

The different services that the Single Counter can provide are the following:

WHAT SECTORS OF ACTIVITIES ARE COVERED BY THE SINGLE COUNTER?

The sectors of activities covered by the Single Counter are : industries, building and public construction, real estate, architecture office, consulting - engineer offices, culture, tourism, public transportation of persons and goods, establishments rated dangerous, insalubrious and uncomfortable.

WHAT TYPES OF AUTHORIZATIONS TO OPERATE ARE ISSUED BY THE SINGLE COUNTER?

Authorizations to operate are granted in the form of :
Registration for:

WHAT ARE THE DEADLINES FOR THE ISSUANCE OF AUTHORISATIONS TO OPERATE?

The deadlines are :

To speed up the formalities for the creation of enterprises, a decree has been adopted setting the a posteriori notification procedure that allows investors, as they submit thier files, to obtain on the spot, a registration number which stands as an authrization to operate.Registrations are made at the CNPI office, orders and approval decisions are granted by the Minister of Industry.

WHAT ARE THE TEXTS OF REFERENCE?

Investment opportunities