“Industry and trade: what synergy for the emergence of the economy of Burkina Faso.” It is under this theme that the national conclave on trade and industry opened on September 3rd, 2020 in Ouagadougou, under the high patronage of Prime Minister Christophe Dabiré.
Improve the flow of products of the Burkinabe industry, in harmony with the various agreements in which Burkina Faso is a stakeholder. That is the general objective of the conclave that brought together industrial and commercial business leaders in the conference room of Ouaga 2000.
Find out more about the national conclave on industry and trade in Burkina Faso and read the latest economic news in the world with our companion app Born2Invest.
The difficulties experienced by the industry in Burkina Faso
According to the patron of the ceremony, Christophe Dabiré, most industries in Burkina Faso have experienced in recent years, multiple difficulties accentuated since 2018 by a slump, particularly for the edible oil, sugar, and tire sectors.
The difficulties to which the Prime Minister referred in his speech delivered by the Minister of Commerce, Industry and Handicrafts, Harouna Kaboré are: A crisis that threatens the industrial fabric of Burkina Faso and hundreds of jobs. Unfair competition through fraudulent imports and counterfeiting, the high cost of products of national industries, weakness of the import regulation system, low quality of some products, high cost of production factors, and others.
That is why he said that “if industrialists and trade actors do not explain themselves, do not get along, do not understand that we must work together and create a synergy of action, some will produce but the others will not market.” And of course, there will be crises such as those that the economy has already experienced, and which have led to the closure of a number of industries.
Which are the basis of economic growth
For him, the problems of development are first and foremost problems of communication and organization. It is necessary to organize the economy and to ensure that private sector actors are also organized so that industry, which is the basis of economic growth, can participate in the creation of wealth and jobs.
That is why Christophe Dabiré welcomed the meeting which allows private sector actors to explain themselves and build bridges between them to allow the smooth running of the economy as a whole.
Three financing agreements were signed with pharmaceutical companies
On the sidelines of this opening ceremony, the Minister of Industry, Harouna Kaboré, signed financing agreements with three pharmaceutical companies, under the IACCP-Pharma initiative in its pharmacy component. Dr. Tiendrebéogo, head of the Saint François d’Assise pharmacy, one of the beneficiaries of the state grant, said that the grant is part of the acquisition of production and packaging equipment. “We are very happy because it opens up prospects for us to offer quality products according to standards and especially at a very affordable cost and accessible to the population,” she said. For her, these partnerships, which she hopes will be long-lasting, open up prospects for the pharmaceutical sector.
The conclave will take place in two phases: the first will include two panels followed by exchanges, and the second will make it possible to list the main conclusions of the work, in order to make proposals to be implemented by all the players.
DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.
This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.
First published in lefaso.net, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.
Amateur Sports Leagues Win Big as FOXD Network Partners With CXSports
Aimed squarely at amateur and semi-professional sports leagues and teams, sports broadcaster FOXD Network has just partnered up with CXSports....
UST Crash: Will TerraUSD Recover? History Says Yes
The UST crash occurred when the supply and demand dynamics of the protocol broke down. As a result, the coin...
Pangaea Oncology, Seeking 12 Million to Grow with Acquisitions
The Spanish biotech company Pangaea Oncology is looking for funds to expand. The company has two main business areas. One...
Exit for Bloovery Investors Who Had Closed Three Equity Crowdfunding Rounds
Bloovery is the leading digital wholesaler for the sale of flowers and plants and, in addition to allowing the florist...
The Fintech Company Clark Closed a €100 Million Deal
As can be seen from the documents, the deal consists of two steps, which are quite common. In order to...
Cannabis2 weeks ago
The Global CBD Gummies Market Will Reach $12 Billion by 2028
Featured2 weeks ago
Understanding the Fed’s Rate Hike: the Long Term Goal of 2.0% Inflation
Featured2 weeks ago
Why Rice Supplies Are Tight and Demand Is Holding Together
Crypto2 weeks ago
Coinbase’s NFT Marketplace Picks Up Steam: Record Turnover of $100,000 Per Day