Country Snapshot
| Population (2019, millions)¹ | 0.85 |
| Population Projections (2030, millions)¹ | 1.1 |
| Economically active population in agriculture (as % of Economically active population)¹², 2019 | 146.1 |
| Capital | Moroni |
| Surface Area (km²)² | 2,235 including Mayotte (374 km2) |
| Weather¹¹ | Tropical; hot and humid in November-May; cooler and drier in May-October; weather in Moroni (altitude 59 metres): hottest month, March, 24-31°C; coldest month, August, 19-27°C; driest month, October, 84 mm average rainfall; wettest month, January, 424 mm average rainfall |
| Languages³ | Official: Arabic, French and Shikomoro/ Comorian (blend of Swahili and Arabic) |
| Main Religions³ | Main: Sunni MuslimOthers: Roman Catholic |
| Time⁴ | Eastern Africa Time (EAT) +0300 UTC |
| Driving Orientation⁵ | Right Side |
| Internet Country Code⁶ | .km |
| Country Calling Code | +269 |
| Plug, Socket and Voltage⁷ | Type C and E – 220V/50Hz |
| Currency | Comorian Franc (KMF) |
| Exchange Rate (As of 22nd January 2019, per USD)⁸ | 433.50 |
| GDP at Market Prices (2018, current, millions of USD)⁹ | 1,203 |
| GDP Growth (2018, annual %)⁹ | 2.8 |
| Average GDP Growth (2014-2018, annual %)⁹ | 2.1 |
| GDP per Capita, PPP (2018, current international $)⁹ | 2,827 |
| Inflation, Consumer Prices (2014, annual %)⁹ | 2.85 |
| Average Inflation, Consumer Prices (2010-2014, annual %)⁹ | 2.99 |
| Total Reserves in Months of Imports (2012)⁹ | 7.15 |
Sources:
¹United Nations Population Division, Department of Economic and Social Affairs.
²African Development Bank Data Portal.
³CIA World Factbook.
⁴Time and Date Portal.
⁵Chartsbin Portal, “Worldwide Driving Orientation by Country”.
⁶Wikipedia, “List of Internet top-level domains”; and, Internet Assigned Numbers Authority, Root Zone Database.
⁷International Electrotechnical Commission, World Plugs.
⁸Banque Centrale des Comores.
⁹ World Bank, World Development Indicators 2019.
¹¹Economist Intelligence Unit.
¹²AFDB Socio Economic Database.
Reasons to Invest in Comoros
- A stable and open country where any investor, without distinction of origin, is free to settle and develop his projects.
- Privileged access to regional and international markets through its strategic geographical proximity to several regions and markets around the world. Comoros is also participating in important regional market integration initiatives around COMESA, SADC and the East African Community (EAC), thus broadening the scope of its market.
- An attractive incentives policy based on legal and fiscal measures.
- An immense natural wealth that is still under-exploited and a unique underwater wealth.
- Comoros has a large number of high-level managers and experts trained locally or abroad.
- Exceptional quality of life; with a living environment where tradition and modernity coexist, agreeably complemented by a pleasant and sunny climate, the Union of the Comoros represents the ideal environment for self-realization, work and good business.
Source: Comoros National Investment Promotion Agency – ANPI Online Portal.
Population
Population Projections (millions)
| Population (2019) | 0.85 |
| Population Projections (2030) | 1.1 |
Source: United Nations Population Division, Department of Economic and Social Affairs.
Population Residing in Urban Areas (%)
| Population Projections (2019) | 29.16 |
| Percentage of Population Residing in Urban Areas (2030) | 32.52 |
Source: United Nations Population Division, Department of Economic and Social Affairs.
Youth Literacy Rates (2017, %)
| Youth Literacy Rate, Population 15-24 Years, Both Sexes | 78.27 |
| Youth Literacy Rate, Population 15-24 Years, Female | 78.30 |
| Youth Literacy Rate, Population 15-24 Years, Male | 78.23 |
Source: United Nations Educational, Scientific and Cultural Organization, UNESCO Institute of Statistics.
Labour
Unemployment (2018, % of Total Labour Force, Modeled ILO Estimate)
| Unemployment, Total | 3.71 |
| Unemployment, Female | 4.06 |
| Unemployment, Male | 3.44 |
Source: World Bank, World Development Indicators 2019.
Labour Force (2018, % of Ages 15+, Modeled ILO Estimate)
| Labour Force Participation Rate, Total | 44.08 |
| Labour Force Participation Rate, Female | 37.42 |
| Labour Force Participation Rate, Male | 50.69 |
| Labour Force, Total (number) | 221,826 |
Source: World Bank, World Development Indicators 2019.
Economy Overview
GDP
| 2014 | 2015 | 2016 | 2017 | 2018 | |
| GDP at Market Prices (current, billions of USD) | 1,148 | 0.988 | 1,024 | 1,068 | 1,203 |
| GDP Growth (annual %) | 2.1 | 1.09 | 2.18 | 2.70 | 2.80 |
Source: World Bank, World Development Indicators 2019.
Value Added by Sector (% of GDP)
| Indicator | 2018 | 2019 |
| Agriculture | 51.72 | 51.34 |
| Manufacturing | 9.69 | 10.34 |
| Industry | 13.04 | 13.57 |
| Services | 54.24 | 54.08 |
| Construction | 0.50 | 0.41 |
| Electricity, gas and water | 0.66 | 0.64 |
| Mining and quarrying | 2.19 | 2.19 |
| Education | 0.00 | 0.00 |
| Finance, real estate and business services | 24.19 | 24.24 |
| Public administration and Defense | 8.83 | 8.73 |
| Health and Social Work | 0.00 | 0.00 |
| Other services | 0.00 | 0.00 |
| Transport, storage and communication | 10.63 | 10.72 |
| Wholesale and retail trade, hotels and restaurants | 11.26 | 10.98 |
Source: AFDB Socio Economic Database
Trade Profile
Import Partners (Imported Value, thousands, USD)
| 2014 | 2015 | 2016 | 2017 | 2018 | |
| World | 227,067 | 746,515 | 194,635 | 221,478 | 126,285 |
| India | 9,254 | 6,293 | 24,133 | 10,998 | 31,647 |
| Pakistan | 35,104 | 51,308 | 31,114 | 30,486 | 28,478 |
| Madagascar | 6,339 | 3,141 | 2,506 | 1,762 | 16,683 |
| Belgium | 587 | 414 | 960 | 1,326 | 5,046 |
| Kenya | 1,210 | 970 | 920 | 452 | 4,833 |
Source: International Trade Centre COMTRADE Statistics.
Export Partners (Exported Value, thousands, USD)
| 2014 | 2015 | 2016 | 2017 | 2018 | |
| World | 29,157 | 15,989 | 33,463 | 37,472 | 66,091 |
| India | 2,866 | 2,535 | 8,236 | 11,848 | 47,901 |
| Germany | 2,059 | 1,870 | 1,888 | 3,197 | 4,528 |
| Indonesia | 2,266 | 3,581 | |||
| United States of America | 1,236 | 432 | 407 | 2,251 | 2,734 |
| Switzerland | 1,060 |
Source: International Trade Centre COMTRADE Statistics.
Comoros’ Top Import Products (USD ‘000)
| Chapter | Description | 2014 | 2015 | 2016 | 2017 | 2018 |
| All products | 18,237,053 | 14,555,436 | 14,107,376 | 16,680,503 | 17,374,783 | |
| 27 | Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes | 4,000,306 | 2,238,934 | 2,111,727 | 2,740,761 | 3,391,797 |
| 84 | Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof | 1,678,328 | 1,425,214 | 1,428,812 | 1,827,535 | 1,664,366 |
| 87 | Vehicles other than railway or tramway rolling-stock, and parts and accessories thereof | 1,498,466 | 1,514,396 | 1,138,203 | 1,114,074 | 1,227,903 |
| 85 | Electrical machinery and equipment and parts thereof; sound recorders and reproducers, television image and sound recorders and reproducers, and parts and accessories of such articles | 1,553,756 | 1,239,386 | 1,629,903 | 1,121,436 | 1,206,182 |
| 72 | Iron and steel | 727,248 | 643,291 | 604,359 | 734,553 | 860,555 |
Source: International Trade Center COMTRADE Statistics.
Comoros’ Top Export Products (USD ‘000)
| Chapter | Description | 2014 | 2015 | 2016 | 2017 | 2018 |
| All products | 29,157 | 15,989 | 33,463 | 37,472 | 66,091 | |
| 09 | Coffee, tea, mate and spices | 16,972 | 11,561 | 24,708 | 30,003 | 62,003 |
| 33 | Essential oils and resinoids; perfumery, cosmetic or toilet preparations | 2,866 | 2,905 | 2,974 | 3,973 | 1,891 |
| 72 | Iron and steel | 28 | 10 | 94 | 35 | 568 |
| 85 | Electrical machinery and equipment and parts thereof; sound recorders and reproducers, television image and sound recorders and reproducers, and parts and accessories of such articles | 777 | 121 | 171 | 748 | 527 |
| 73 | Articles of iron or steel | 68 | 29 | 48 | 62 | 349 |
Source: International Trade Center COMTRADE Statistics.
Investment Profile
FDI Inflows (millions of USD)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 |
| FDI Inflows | 3.6 | 3.9 | 5.7 | 3.7 | 8.6 |
FDI Inward Stock (millions of USD)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 |
| FDI Inward Stock | 110.4 | 114.3 | 121.2 | 129.1 | 137.6 |
Source: United Nations Conference on Trade and Development, World Investment Report 2021
FDI Inflows Main Source Countries (in terms of number of projects)
China, France, Italy, Qatar, Tanzania, United States of America, Kuwait, and Turkey.
Source: Financial Times, fDi Markets, 2018
FDI Inflows Main Sectors (in terms of number of projects)
Financial Services, Tourism and Hospitality, Business Services, Infrastructure, retail, and manufacturing.
Source: Financial Times, fDi Markets, 2018
FDI Inflows Main Companies (in terms of number of projects)
Exim Bank, Banque Fédérale de Commerce, BIC, CGC, Huawei, Bolloré, Colas, EGT, CBE, Kulak Co., Salsabil, Madji Baraka, Hurya Industry, Yako, Super Centre – Harita, Hairu Fisheries, etc.
Source: Financial Times, fDi Markets, 2018
Doing Business
World Bank Doing Business Profile
The World Bank’s Doing Business reports and rankings provide objective measures of business regulations and their enforcement across 190 economies. Ultimately, economies are ranked, across several important dimensions, on their ease of doing business, from 1 to 190. A high ease of doing business ranking (closer to 1) means that the regulatory environment is more conducive to the starting and operation of a local firm.
Overall Doing Business Ranking
| 2020 | 166/190 |
| 2019 | 164/190 |
Source: World Bank, Doing Business, 2020
Starting a Business
| 2020 Rank | 158/190 |
| Procedures (number) | 9 |
| Time (days) | 16 |
| Cost (% of income per capita*) | 54.2 |
| Paid-in Minimum Capital (% of income per capita*) | 17.2 |
*GNI per capita used: USD 280
Source: World Bank, Doing Business, 2020
Paying Taxes
Paying Taxes
| 2020 Rank | 168/190 |
| Payments (number per year) | 33 |
| Time (hours per year) | 100 |
| Total Tax Rate (% of profit) | 219.6 |
| Profit Tax (% of profit) | 30.4 |
| Labour Tax and Contributions (% of profit) | 0.0 |
| Other Taxes (% of profit) | 189.2 |
Source: World Bank, Doing Business, 2020
Trading Across Borders
| 2020 Rank | 120/190 |
| Time to Export: Border Compliance (hours) | 51 |
| Cost to Export: Border Compliance (USD) | 651 |
| Time to Export: Documentary Compliance (hours) | 50 |
| Cost to Export: Documentary Compliance (USD) | 124 |
| Time to Import: Border Compliance (hours) | 70 |
| Cost to Import: Border Compliance (USD) | 765 |
| Time to Import: Documentary Compliance (hours) | 26 |
| Cost to Import: Documentary Compliance (USD) | 93 |
Assumptions
- It is assumed that shipment travels from a warehouse in the largest business city of the exporting economy to a warehouse in the largest business city of the importing economy.
- It is assumed that each economy imports a standardized shipment of 15 metric tons of containerized auto parts (HS 8708) from its natural import partner—the economy from which it imports the largest value (price times quantity) of auto parts. It is assumed that each economy exports the product of its comparative advantage (defined by the largest export value) to its natural export partner—the economy that is the largest purchaser of this product.
- A shipment is a unit of trade. Export shipments do not necessarily need to be containerized, while import shipments of auto parts are assumed to be containerized.
- Shipping cost based on weight is assumed to be greater than shipping cost based on volume.
- If government fees are determined by the value of the shipment, the value is assumed to be $50,000.
- The mode of transport is the one most widely used for the chosen export or import product and the trading partner, as is the seaport, airport or land border crossing.
- Time is measured in hours, and 1 day is 24 hours.
- Costs do not include tariffs.
Source: World Bank, Doing Business, 2020
Investment Regime
Legal Framework
Investment Code – Law No. 07-0010/AU of 2007 The
main provisions of Law No. 07-0010/AU are:
- The guarantee of equal treatment between domestic and foreign investors Similarly, foreign workers have the same rights and obligations as national workers
- The ability for investors to obtain approved tax benefits for investments greater than or equal to 5,000,000 KMF (approximately USD 13,400)
- The establishment of ANPI – Comoros Investment Promotion Agency
Source: Comoros National Investment Promotion Agency, ANPI Online Portal.
Investment Incentives
- Incentive System ‘A’ – aimed at enterprises with:
- An investment programme ranging between 5,000,000 KMF (approx. 10,000 Euros) and 100,000,000 KMF (approx. 200,000 Euros)
- A significant job creation programme which favours the recruitment of nationals
- Approval under system ‘A’ bestows the following rights and benefits:
- The application of a maximally reduced rate in the unique administrative royalty (RAU) for the import of equipment and materials destined, in a specific way, to production or exploitation, as part of the approved programme, for a seven-year period
- Tax exemption on turnover for the equipment and materials destined, in a specific manner, to production and exploitation, as part of the approved programme, for a seven-year period
- For the tax on profits, approved enterprises are authorised to deduct from the amount of the taxable profits, 100% of the amount of the accepted investments. These deductions are spread over five successive fiscal years, at the end of which, the outstanding amount of the authorised but not used tax credit, is neither chargeable nor refundable
- Exemption, for two additional years, for enterprises established in rural areas
- At the end of the incentive period, the application of a maximum 50% reduction to the on-going minimum rate for the import of raw materials destined, in a specific way, to production
- System ‘B’ is reserved for enterprises with:
- An investment programme above 100,000,000 KMC (above 200,000 Euro)
- A significant job creation programme which favours the recruitment of nationals
- The approval under system ‘B’ bestows the following rights and benefits:
- The application of a maximally reduced rate in the unique administrative royalty (RAU) on the import of equipment and materials destined, in a specific manner, to production or exploitation, as part of an approved programme, for a ten-year period
- Tax exemption on turnover for equipment and materials destined, in a specific manner, to production or exploitation, as part of an approved programme for a ten-year period
- For the tax on profits, the approved enterprises are authorised to deduct from the amount of taxable profit, 100% of the amount of the investments. These deductions are spread over 8 successive fiscal years, at the end of which the outstanding amount of the authorised but not used taxation credit, is neither rechargeable nor refundable
- Exemption for an additional two-year period, for enterprises established in rural zones
- At the end of the incentive period, the application of a maximally reduced rate for the import of raw materials destined, in a specific manner, to production.
Source: Comoros National Investment Promotion Agency, ANPI Online Portal.
Country Snapshot
| Population (2019, millions)¹ | 0.85 |
| Population Projections (2030, millions)¹ | 1.1 |
| Economically active population in agriculture (as % of Economically active population)¹², 2019 | 146.1 |
| Capital | Moroni |
| Surface Area (km²)² | 2,235 including Mayotte (374 km2) |
| Weather¹¹ | Tropical; hot and humid in November-May; cooler and drier in May-October; weather in Moroni (altitude 59 metres): hottest month, March, 24-31°C; coldest month, August, 19-27°C; driest month, October, 84 mm average rainfall; wettest month, January, 424 mm average rainfall |
| Languages³ | Official: Arabic, French and Shikomoro/ Comorian (blend of Swahili and Arabic) |
| Main Religions³ | Main: Sunni MuslimOthers: Roman Catholic |
| Time⁴ | Eastern Africa Time (EAT) +0300 UTC |
| Driving Orientation⁵ | Right Side |
| Internet Country Code⁶ | .km |
| Country Calling Code | +269 |
| Plug, Socket and Voltage⁷ | Type C and E – 220V/50Hz |
| Currency | Comorian Franc (KMF) |
| Exchange Rate (As of 22nd January 2019, per USD)⁸ | 433.50 |
| GDP at Market Prices (2018, current, millions of USD)⁹ | 1,203 |
| GDP Growth (2018, annual %)⁹ | 2.8 |
| Average GDP Growth (2014-2018, annual %)⁹ | 2.1 |
| GDP per Capita, PPP (2018, current international $)⁹ | 2,827 |
| Inflation, Consumer Prices (2014, annual %)⁹ | 2.85 |
| Average Inflation, Consumer Prices (2010-2014, annual %)⁹ | 2.99 |
| Total Reserves in Months of Imports (2012)⁹ | 7.15 |
Sources:
¹United Nations Population Division, Department of Economic and Social Affairs.
²African Development Bank Data Portal.
³CIA World Factbook.
⁴Time and Date Portal.
⁵Chartsbin Portal, “Worldwide Driving Orientation by Country”.
⁶Wikipedia, “List of Internet top-level domains”; and, Internet Assigned Numbers Authority, Root Zone Database.
⁷International Electrotechnical Commission, World Plugs.
⁸Banque Centrale des Comores.
⁹ World Bank, World Development Indicators 2019.
¹¹Economist Intelligence Unit.
¹²AFDB Socio Economic Database.
Reasons to Invest in Comoros
- A stable and open country where any investor, without distinction of origin, is free to settle and develop his projects.
- Privileged access to regional and international markets through its strategic geographical proximity to several regions and markets around the world. Comoros is also participating in important regional market integration initiatives around COMESA, SADC and the East African Community (EAC), thus broadening the scope of its market.
- An attractive incentives policy based on legal and fiscal measures.
- An immense natural wealth that is still under-exploited and a unique underwater wealth.
- Comoros has a large number of high-level managers and experts trained locally or abroad.
- Exceptional quality of life; with a living environment where tradition and modernity coexist, agreeably complemented by a pleasant and sunny climate, the Union of the Comoros represents the ideal environment for self-realization, work and good business.
Source: Comoros National Investment Promotion Agency – ANPI Online Portal.
Population
Population Projections (millions)
| Population (2019) | 0.85 |
| Population Projections (2030) | 1.1 |
Source: United Nations Population Division, Department of Economic and Social Affairs.
Population Residing in Urban Areas (%)
| Population Projections (2019) | 29.16 |
| Percentage of Population Residing in Urban Areas (2030) | 32.52 |
Source: United Nations Population Division, Department of Economic and Social Affairs.
Youth Literacy Rates (2017, %)
| Youth Literacy Rate, Population 15-24 Years, Both Sexes | 78.27 |
| Youth Literacy Rate, Population 15-24 Years, Female | 78.30 |
| Youth Literacy Rate, Population 15-24 Years, Male | 78.23 |
Source: United Nations Educational, Scientific and Cultural Organization, UNESCO Institute of Statistics.
Labour
Unemployment (2018, % of Total Labour Force, Modeled ILO Estimate)
| Unemployment, Total | 3.71 |
| Unemployment, Female | 4.06 |
| Unemployment, Male | 3.44 |
Source: World Bank, World Development Indicators 2019.
Labour Force (2018, % of Ages 15+, Modeled ILO Estimate)
| Labour Force Participation Rate, Total | 44.08 |
| Labour Force Participation Rate, Female | 37.42 |
| Labour Force Participation Rate, Male | 50.69 |
| Labour Force, Total (number) | 221,826 |
Source: World Bank, World Development Indicators 2019.
Economy Overview
GDP
| 2014 | 2015 | 2016 | 2017 | 2018 | |
| GDP at Market Prices (current, billions of USD) | 1,148 | 0.988 | 1,024 | 1,068 | 1,203 |
| GDP Growth (annual %) | 2.1 | 1.09 | 2.18 | 2.70 | 2.80 |
Source: World Bank, World Development Indicators 2019.
Value Added by Sector (% of GDP)
| Indicator | 2018 | 2019 |
| Agriculture | 51.72 | 51.34 |
| Manufacturing | 9.69 | 10.34 |
| Industry | 13.04 | 13.57 |
| Services | 54.24 | 54.08 |
| Construction | 0.50 | 0.41 |
| Electricity, gas and water | 0.66 | 0.64 |
| Mining and quarrying | 2.19 | 2.19 |
| Education | 0.00 | 0.00 |
| Finance, real estate and business services | 24.19 | 24.24 |
| Public administration and Defense | 8.83 | 8.73 |
| Health and Social Work | 0.00 | 0.00 |
| Other services | 0.00 | 0.00 |
| Transport, storage and communication | 10.63 | 10.72 |
| Wholesale and retail trade, hotels and restaurants | 11.26 | 10.98 |
Source: AFDB Socio Economic Database
Trade Profile
Import Partners (Imported Value, thousands, USD)
| 2014 | 2015 | 2016 | 2017 | 2018 | |
| World | 227,067 | 746,515 | 194,635 | 221,478 | 126,285 |
| India | 9,254 | 6,293 | 24,133 | 10,998 | 31,647 |
| Pakistan | 35,104 | 51,308 | 31,114 | 30,486 | 28,478 |
| Madagascar | 6,339 | 3,141 | 2,506 | 1,762 | 16,683 |
| Belgium | 587 | 414 | 960 | 1,326 | 5,046 |
| Kenya | 1,210 | 970 | 920 | 452 | 4,833 |
Source: International Trade Centre COMTRADE Statistics.
Export Partners (Exported Value, thousands, USD)
| 2014 | 2015 | 2016 | 2017 | 2018 | |
| World | 29,157 | 15,989 | 33,463 | 37,472 | 66,091 |
| India | 2,866 | 2,535 | 8,236 | 11,848 | 47,901 |
| Germany | 2,059 | 1,870 | 1,888 | 3,197 | 4,528 |
| Indonesia | 2,266 | 3,581 | |||
| United States of America | 1,236 | 432 | 407 | 2,251 | 2,734 |
| Switzerland | 1,060 |
Source: International Trade Centre COMTRADE Statistics.
Comoros’ Top Import Products (USD ‘000)
| Chapter | Description | 2014 | 2015 | 2016 | 2017 | 2018 |
| All products | 18,237,053 | 14,555,436 | 14,107,376 | 16,680,503 | 17,374,783 | |
| 27 | Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes | 4,000,306 | 2,238,934 | 2,111,727 | 2,740,761 | 3,391,797 |
| 84 | Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof | 1,678,328 | 1,425,214 | 1,428,812 | 1,827,535 | 1,664,366 |
| 87 | Vehicles other than railway or tramway rolling-stock, and parts and accessories thereof | 1,498,466 | 1,514,396 | 1,138,203 | 1,114,074 | 1,227,903 |
| 85 | Electrical machinery and equipment and parts thereof; sound recorders and reproducers, television image and sound recorders and reproducers, and parts and accessories of such articles | 1,553,756 | 1,239,386 | 1,629,903 | 1,121,436 | 1,206,182 |
| 72 | Iron and steel | 727,248 | 643,291 | 604,359 | 734,553 | 860,555 |
Source: International Trade Center COMTRADE Statistics.
Comoros’ Top Export Products (USD ‘000)
| Chapter | Description | 2014 | 2015 | 2016 | 2017 | 2018 |
| All products | 29,157 | 15,989 | 33,463 | 37,472 | 66,091 | |
| 09 | Coffee, tea, mate and spices | 16,972 | 11,561 | 24,708 | 30,003 | 62,003 |
| 33 | Essential oils and resinoids; perfumery, cosmetic or toilet preparations | 2,866 | 2,905 | 2,974 | 3,973 | 1,891 |
| 72 | Iron and steel | 28 | 10 | 94 | 35 | 568 |
| 85 | Electrical machinery and equipment and parts thereof; sound recorders and reproducers, television image and sound recorders and reproducers, and parts and accessories of such articles | 777 | 121 | 171 | 748 | 527 |
| 73 | Articles of iron or steel | 68 | 29 | 48 | 62 | 349 |
Source: International Trade Center COMTRADE Statistics.
Investment Profile
FDI Inflows (millions of USD)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 |
| FDI Inflows | 3.6 | 3.9 | 5.7 | 3.7 | 8.6 |
FDI Inward Stock (millions of USD)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 |
| FDI Inward Stock | 110.4 | 114.3 | 121.2 | 129.1 | 137.6 |
Source: United Nations Conference on Trade and Development, World Investment Report 2021
FDI Inflows Main Source Countries (in terms of number of projects)
China, France, Italy, Qatar, Tanzania, United States of America, Kuwait, and Turkey.
Source: Financial Times, fDi Markets, 2018
FDI Inflows Main Sectors (in terms of number of projects)
Financial Services, Tourism and Hospitality, Business Services, Infrastructure, retail, and manufacturing.
Source: Financial Times, fDi Markets, 2018
FDI Inflows Main Companies (in terms of number of projects)
Exim Bank, Banque Fédérale de Commerce, BIC, CGC, Huawei, Bolloré, Colas, EGT, CBE, Kulak Co., Salsabil, Madji Baraka, Hurya Industry, Yako, Super Centre – Harita, Hairu Fisheries, etc.
Source: Financial Times, fDi Markets, 2018
Doing Business
World Bank Doing Business Profile
The World Bank’s Doing Business reports and rankings provide objective measures of business regulations and their enforcement across 190 economies. Ultimately, economies are ranked, across several important dimensions, on their ease of doing business, from 1 to 190. A high ease of doing business ranking (closer to 1) means that the regulatory environment is more conducive to the starting and operation of a local firm.
Overall Doing Business Ranking
| 2020 | 166/190 |
| 2019 | 164/190 |
Source: World Bank, Doing Business, 2020
Starting a Business
| 2020 Rank | 158/190 |
| Procedures (number) | 9 |
| Time (days) | 16 |
| Cost (% of income per capita*) | 54.2 |
| Paid-in Minimum Capital (% of income per capita*) | 17.2 |
*GNI per capita used: USD 280
Source: World Bank, Doing Business, 2020
Paying Taxes
Paying Taxes
| 2020 Rank | 168/190 |
| Payments (number per year) | 33 |
| Time (hours per year) | 100 |
| Total Tax Rate (% of profit) | 219.6 |
| Profit Tax (% of profit) | 30.4 |
| Labour Tax and Contributions (% of profit) | 0.0 |
| Other Taxes (% of profit) | 189.2 |
Source: World Bank, Doing Business, 2020
Trading Across Borders
| 2020 Rank | 120/190 |
| Time to Export: Border Compliance (hours) | 51 |
| Cost to Export: Border Compliance (USD) | 651 |
| Time to Export: Documentary Compliance (hours) | 50 |
| Cost to Export: Documentary Compliance (USD) | 124 |
| Time to Import: Border Compliance (hours) | 70 |
| Cost to Import: Border Compliance (USD) | 765 |
| Time to Import: Documentary Compliance (hours) | 26 |
| Cost to Import: Documentary Compliance (USD) | 93 |
Assumptions
- It is assumed that shipment travels from a warehouse in the largest business city of the exporting economy to a warehouse in the largest business city of the importing economy.
- It is assumed that each economy imports a standardized shipment of 15 metric tons of containerized auto parts (HS 8708) from its natural import partner—the economy from which it imports the largest value (price times quantity) of auto parts. It is assumed that each economy exports the product of its comparative advantage (defined by the largest export value) to its natural export partner—the economy that is the largest purchaser of this product.
- A shipment is a unit of trade. Export shipments do not necessarily need to be containerized, while import shipments of auto parts are assumed to be containerized.
- Shipping cost based on weight is assumed to be greater than shipping cost based on volume.
- If government fees are determined by the value of the shipment, the value is assumed to be $50,000.
- The mode of transport is the one most widely used for the chosen export or import product and the trading partner, as is the seaport, airport or land border crossing.
- Time is measured in hours, and 1 day is 24 hours.
- Costs do not include tariffs.
Source: World Bank, Doing Business, 2020
Investment Regime
Legal Framework
Investment Code – Law No. 07-0010/AU of 2007 The
main provisions of Law No. 07-0010/AU are:
- The guarantee of equal treatment between domestic and foreign investors Similarly, foreign workers have the same rights and obligations as national workers
- The ability for investors to obtain approved tax benefits for investments greater than or equal to 5,000,000 KMF (approximately USD 13,400)
- The establishment of ANPI – Comoros Investment Promotion Agency
Source: Comoros National Investment Promotion Agency, ANPI Online Portal.
Investment Incentives
- Incentive System ‘A’ – aimed at enterprises with:
- An investment programme ranging between 5,000,000 KMF (approx. 10,000 Euros) and 100,000,000 KMF (approx. 200,000 Euros)
- A significant job creation programme which favours the recruitment of nationals
- Approval under system ‘A’ bestows the following rights and benefits:
- The application of a maximally reduced rate in the unique administrative royalty (RAU) for the import of equipment and materials destined, in a specific way, to production or exploitation, as part of the approved programme, for a seven-year period
- Tax exemption on turnover for the equipment and materials destined, in a specific manner, to production and exploitation, as part of the approved programme, for a seven-year period
- For the tax on profits, approved enterprises are authorised to deduct from the amount of the taxable profits, 100% of the amount of the accepted investments. These deductions are spread over five successive fiscal years, at the end of which, the outstanding amount of the authorised but not used tax credit, is neither chargeable nor refundable
- Exemption, for two additional years, for enterprises established in rural areas
- At the end of the incentive period, the application of a maximum 50% reduction to the on-going minimum rate for the import of raw materials destined, in a specific way, to production
- System ‘B’ is reserved for enterprises with:
- An investment programme above 100,000,000 KMC (above 200,000 Euro)
- A significant job creation programme which favours the recruitment of nationals
- The approval under system ‘B’ bestows the following rights and benefits:
- The application of a maximally reduced rate in the unique administrative royalty (RAU) on the import of equipment and materials destined, in a specific manner, to production or exploitation, as part of an approved programme, for a ten-year period
- Tax exemption on turnover for equipment and materials destined, in a specific manner, to production or exploitation, as part of an approved programme for a ten-year period
- For the tax on profits, the approved enterprises are authorised to deduct from the amount of taxable profit, 100% of the amount of the investments. These deductions are spread over 8 successive fiscal years, at the end of which the outstanding amount of the authorised but not used taxation credit, is neither rechargeable nor refundable
- Exemption for an additional two-year period, for enterprises established in rural zones
- At the end of the incentive period, the application of a maximally reduced rate for the import of raw materials destined, in a specific manner, to production.
Source: Comoros National Investment Promotion Agency, ANPI Online Portal.