Friday, July 24, 2015

Big resort in Cape Verde planned, thanks to Portugese colonial history and Cape Verdean good governance

According to yesterday, 

"Macau Legend Development Limited today announced that MLD Cabo Verde Resorts, S.A. and MLD Cabo Verde Entretenimento, S.A., both wholly-owned subsidiaries of the Company, have entered into several agreements with, among others, the Government of the Republic of Cape Verde to develop a 152,700 square-meters integrated resort and gaming facility complex."

So China is not just investing in oil drilling and mining, they're also investing in hotels and casinos and convention centers and all the other stuff that will be in this big resort.

China is investing all over Africa, but the connection between Cape Verde and Macau in particular is they were both colonized by the Portugese. Cape Verde was a Portugese colony until 1975. Macau was kind of Portugal's version of Britain's Hong Kong, and, like Hong Kong, is now a special administrative region of the People's Republic of China.

Anyway, the investment is a tribute to Cape Verde's political stability and general good governance. For example, former president Pedro Pires won the Mo Ibrahim Prize in 2011.

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