Cape Verde - Industry



Mining makes a negligible contribution to the economy. Salt is the most important mined resource in Cape Verde, and current production stands at only 7,000 metric tons per year. On the island of Santo Antao there has been intermittent exploitation of pozzolana, a volcanic ash used in making hydraulic cement.

Manufacturing, though slowly expanding, is quite small and underdeveloped. The main areas of manufacturing are in shoemaking, fish canning, rum distilling, textiles, and beverage bottling. There are about 120 small to medium-sized privately owned manufacturing companies, mostly located in Praia and on Sao Vicente. The government believes the nation's geographical position, relatively skilled labor force, and low wages make it suitable for light industry. Since 1993 a free zone enterprise law has provided custom and tax duty exemptions in an attempt to attract foreign investment. As a result, industrial exports quadrupled from 1994 to 1998.

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