Indian IT and Biotech companies can now access the West African markets with relative ease. The Export-Import Bank of India (Exim Bank) has extended a Line of Credit of US$ 20 million to the Government of Côte d’Ivoire under Government of India’s (GoI) TEAM-9 initiative, for financing the Mahatma Gandhi IT and Biotechnology Park Project in Côte d’Ivoire. The project when completed will be a dedicated Free Trade Zone (FTZ) for IT & Biotechnology. The park is located in the town of Grand-Bassam, a historic seaside town, on the outskirts of the commercial capital of Abidjan.
The Mahatma Gandhi IT and Biotechnology Park is located in the Village of Information Technology and Biotechnology (VITIB), which is responsible for management, operations and promotion of the FTZ. VITIB will provide professional and support services for companies, manage business incubators and the proposed Human Capital Reinforcement Institute.
VITIB has proposed the following activities in the FTZ. Indian companies in the biotech and ICT space can find suitable opportunities in following areas:
• Biotech & Information and Communication Technology (ICT) services;
• Research and Development in Biotech & ICT;
• Intensive Training (Language, Biotech & ICT, Management);
• Offshore financial services to support core activities.
• Incubation of Biotech & ICT projects