The Comoros Archipelago is situated in the north-east of Madagascar, at the entrance of the Mozambique Channel. The Archipelago, which appeared in the Tertiary period, has about thirty islands, the top four of these being inhabited: Grand Comore (Ngazidja), Anjouan (Ndzuwani), Moheli (Mwali) and Mayotte (Maoré).
In 2011, the economic activity of the Union of the Comoros experienced continued growth and development. A 1.9% growth in the real gross domestic product (GDP) was registered in 2009, followed by 2.2% in 2010. OGDP was estimated at 2.6% in 2011. This recovery is primarily attributable to the surge in activity in the building sector, the strengthening of the financial sector, the good agricultural production, and to remittances from the diaspora as well. Despite an unfavourable international situation, expatriates’ remittances, which represent one of the major sources of funding and support to the Comorian economy, maintained momentum and have been facilitated by the opening of Comorian post counters in France.
The Comorian Government has made substantial efforts to improve the business climate, investment conditions and the entry of foreign investors.
Climate for Investment
The new investment code approved in 2007 is more liberal and attractive than the previous one. It provides investors with a conducive legal framework, the free movement of capital and profits and equal rights for foreign and national investors. The National Agency for Investment Promotion «Invest in Comoros» is the main institution in charge of liaising with investors and centralized approaches. Its role is to serve as an intermediary to the government with investors to carry out business registration procedures and issue special permits.