São Paulo – The CEO of the Arab Brazilian Chamber of Commerce, Michel Alaby, attended this Monday (15th) the first in a series of appointments with business executives, delegates from sectoral organizations and government officials in Mauritania, in a bid to seek business opportunities for Brazilian enterprises. In the capital Nouakchott, he convened with the CEO of the local investment promotion agency, Ahmedou Ould Ely.
“There are incentives that are offered to foreign capital,” Alaby said. Among them, the executive mentioned free lease of land for 99 years, a reduced 3.5% tax on equipment imports, three years of exemption from value added tax, income tax exemption on profits – whereas the rate usually levied is 20%– and 50% off social contributions for three years.
The goal is to draw capital into sectors deemed as priorities, such as agriculture, meat processing, fishery and fish processing, solar and wind power, tourism and mining. Jobs creation is rewarded. According to Alaby, the exemption from the value added tax, for instance, can be extended for up to ten years, in case the company at hand meets certain targets in hiring local workers. The regular tax is 14%.
The Arab Chamber CEO stressed that Mauritania is rich in natural resources such as iron ore, phosphate, marble, gypsum, copper, gold, oil and gas, as well as abundant fish along its coastline.
He added that the government agency uses a single service for all investor proposals. By filling in a single form, interested parties can have their projects reviewed by different government bodies, with feedback in 48 hours at most. The agency also provides guidance to entrepreneurs on the type of company best suited to explore a given business area.
Trade promotion
Alaby also paid a visit to the Chamber of Commerce and Industry of Mauritania, where he met with the chairman Mohamedou Ould Mohamed Mahmoud and CEO Wane Abdoul Aziz. The former also chairs the General Union of Chambers of Commerce, Industry and Agriculture of Arab Countries, of which the Arab Brazilian Chamber of Commerce is a member.
The executives provided an in-depth account of the services provided by the Mauritanian chamber, such as working for trade, industry, agriculture and fishing in the country, supplying information to economic operators, and taking private sectors requests to the government. The chamber issues publications on its activities and maintains an arbitration and mediation chamber. “The primary goal is to enable private sector growth [in the African country],” Alaby said.
At the chamber of commerce, Alaby also convened with the CEO of the National Union of Mauritanian Employers, Ahmed Baba Ould Azizi, who discussed the activities of the organization and its members.
For his part, Alaby placed the Arab Brazilian Chamber of Commerce at the disposal of the Mauritanian organizations and their members, in case they are interested in looking for business partners in Brazil.
*Translated by Gabriel Pomerancblum
