Mauritania: opportunities for fishery sector and fishing
This article aims to underline an important opportunity in Mauritania for fishing and fishery products processing.
THIS ARTICLE IS ADDRESSED TO:
Companies working in fishing sector and fishery products processing.
INTRODCTION: WHY IS MAUTITANIA STRATEGIC FOR FISHING AND FISHERY SECTOR ?
Thanks to its position, Mauritania offers huge opportunities in fishery sector, such as processing and conservation of fish products, algae farming, seafood and fish farming. There are many different species in Mauritania sea: OCTOPUS, QUILL, SQUID, SOLE, JOHN DORY, CATFISH, CONGER, SCORPIONFISH, FLOUNDER, GOATFISH, MEAGRE.
More than half of Mauritania picked fish, arrives fresh or frozen to consumers, only 10% is canned, and the remaining fish is wasted because there are no processing machines and there are few cold storages. By establishing a small production line it will be possible to have a main role in the market, seizing a development opportunity, and successively exporting to African markets with a low excise duty (5%) and to North American market which hasn’t any excise duty, therefore the only cost will be freight costs, compared to Europe which has high excise duties.
IBS will make agreements with big, medium and small fishermen in order to provide different quantities of fish, according to business projects. There are unlimited quantities of frozen fish, therefore it is important to undersign a contract for the transformation Business Plan.
EXAMPLES
A clarifying example is the production of Bottarga, it is mainly handcrafted by a women cooperative who work only this expensive product completely ignoring and wasting mullets. Instead, fish could be filleted in order to produce fishmeal and fish oil with head and bones. It is possible to process any kind of fish in order to produce high-quality products. It is better to process octopus and squid because of their quality and quantity.
COSTS
Currently, establishing a new society in Mauritania costs around 2000 euro, 500 euro a month for an office and 500 euro for miscellaneous expenditures.
The manpower cost is 150 euro a month for a general workman and 250 euro a month for a specialized workman.
THE IBS ADDED VALUE FOR YOUR BUSINESS IN MAUTITANIA
Thanks to partnerships with key people working in local institutions, commercial field and Italian people with references who live in Mauritania, our company can support you establishing a production unit in Mauritania for transformation and processing of fishery products. In order to find a potential business for your company.
Our services :
Support to establish a production unit, expenditure forecast for society establishment, offices, annual administrative costs;
Find a suitable location for plant and productive activity;
Scouting of local tax benefits and financial advantages;
Ongoing support and potential financing application through the African Development Bank, EIB or ECB.
In order to create a new production unit is important to organise a mission. Moreover we will carry out a feasibility study.
HIGHER ADVANTAGES THANKS TO FREE TRADE ZONE
The following overview explains potentialities and presents the NOUADHIBOU free trade zone in Mauritania. This zone offers many opportunities to business men interested in establishing a new company, such as:
- Low investments costs due to government subsidies;
- Goods on sale are not charged with VAT, excise taxes or other taxes;
- Business profits are untaxed for the first 7 years, from the eight to the fifteenth is 7% and then 25%;
- Total exemption from the payment of custom duties;
- Higher investments in the country by private investors and international donors;
- General development of the country economy will benefit single businesses;
- Centralisation of administrative services, speed up the bureaucracy thanks to one-stop-shop for foreign investors.
LINK
Mauritania Country Profile
FOR FURTHER INFORMATION
Write an e-mail to the contact below specifying your request and we will provide you further details.
