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EB-5 Immigrant Visa Program: An Option for Foreign Investors to Invest in the U.S. and Obtain Permanent Residence for Themselves and Their Immediate Relatives

By
Igbanugo Partners International Law Firm
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The recent collapse in the worldwide economy has led to an increase in violence, instability and crime in many countries across the globe. Wealthy foreign nationals in the Middle East, Africa and Latin America are seeking a safer environment to live and invest their money. Although some European countries, Canada, and Australia offer safer territories to invest, they have very limited immigrant visa programs for entrepreneurs and the investments are heavily taxed. Meanwhile, the United States has created one of the most beneficial immigrant investor visa programs in U.S. immigration history known as the “EB-5”. The EB-5 program allows foreign nationals to invest in the United States and obtain lawful permanent status (green card) for themselves and their immediate family (spouse and unmarried children under 21 years of age), which is the first step to become a U.S. citizen.

Congress created the EB-5 Immigrant Investor Program to attract foreign investors and stimulate the U.S. economy through job creation and foreign capital investment. Because there is no quota backlog or waiting list in the EB-5 preference category, it allows applicants and their immediate relatives to obtain permanent residence status much more quickly than with most other immigrant visa options.

What are the requirements?

An investor may obtain a U.S. green card through the EB-5 category if the investor generally fulfills two major requirements:

1. Invest at least $500,000 in “targeted employment areas” or $1 million in a new commercial enterprise in the United States: The invested funds must come from a lawful source. The investment must be “at risk”, meaning that the capital will be used for job creation and profit-generation activities.

2. Create 10 full-time jobs for U.S. workers: U.S. citizens, lawful permanent residents and foreign nationals who are authorized to work count as “U.S. workers.” The investor and the immediate relatives cannot be counted as U.S. workers and the 10 full-time workers must work at least 35 hours a week.

What is the filing procedure?

The applicant must first file the Form I-526, Immigration Petition by Alien Entrepreneur, with U.S. Citizenship and Immigration Services (USCIS). Upon approval of the petition, the investor and the immediate relatives (spouse and single children under 21 years of age) may apply for an immigrant visa at a U.S. consulate or apply for adjustment to permanent resident status at a regional USCIS office if the investor is already in the United States.

The initial resident status is “conditional” for two years. Before the two-year period expires, the investor must file the Form I-829 with USCIS to request removal of the conditions on permanent residence. USCIS normally grants the petition if the investor demonstrates that he/she invested or was actively in the process of investing the requisite capital; the investor maintained the investment throughout the two-year period of conditional residence; and the investment created the requisite employment.

Passive Investor Option – Regional Designated Center Pilot Program

To encourage immigration through the immigrant investor category, the U.S. Congress created the Designated Regional Center Pilot Program in 1993. The Pilot Program sets aside 3,000 visas each year for individuals who invest the required amount of capital in a Designated Regional Center. A Regional Center is an entity, organization or agency that has been approved as such by USCIS, which focuses on a specific geographic zone within the U.S. and aims to promote economic growth. The regional center option is ideal for passive investors who do not want to manage the day-to-day business of the investment.

EB-5 Challenges

Some of the biggest challenges for EB-5 investors typically include:

1) Showing that the invested funds came from legitimate sources and were not amassed or transferred in violation of laws.

2) Showing that the jobs in a project that takes years to develop really will be created within two years of the approval of the petition.

3) Balancing the need to create 10 full-time jobs and have the capital “at risk” with the desire for investment stability, timely return, and profit.

EB-5 Benefits

The EB-5 green card option allows investors to:

1) Live anywhere in the U.S. while enjoying a safer investment territory, building retirement funds, attending school, or running the enterprise in which they have invested.

2) Become a permanent resident (green card holder) without any quota backlogs and, five years later, become a naturalized U.S. citizen if they meet the requirements.

3) Petition for their spouse and children under 21 years old to immigrate with them to the U.S.

Consult an Immigration Attorney

To obtain lawful permanent residence through the EB-5 program, investors must submit evidence and information to USCIS explaining how they meet the requirements. Being granted the EB-5 at the I-526 stage is the less difficult part of the process. Holding on to the EB-5 at the I-821 stage is the more complex part of the process.

For both petitions, investors should consult an experienced attorney to maximize the chance of success and respond properly to requests for evidence (RFE) or notices of intent to deny (NOID) the petition. USCIS may issue an RFE when required evidence is missing. It may further issue a NOID when it has information showing that the applicant does not qualify for the benefit. While the EB-5 program was created to encourage foreign nationals to invest in the United States, USCIS will review petitions with great scrutiny before it makes its decision. A qualified attorney can help the investor determine whether the EB-5 is an appropriate path to becoming a permanent resident of the U.S.

 

Nothing in this article should be taken as legal advice for an individual case or situation. The information is intended to be general and should not be relied upon for any specific situation. For legal advice, consult an attorney experienced in immigration law.

 

Mshale celebrates 15 years of News and Culture

By
amanda
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An Open Mic and Poetry Jam kicks off summer-long celebration

To celebrate its years of service to the African immigrant community in Minnesota, Mshale Newspaper kicked off its 15th anniversary celebration with a poetry open mic on July 15.

More than 125 Mshale supporters and poetry enthusiasts gathered in the dimly-lit Loft Literary Center for the event, which featured a broad spectrum of talent—ranging from spoken word artists, to singers and musicians.

Mshale Publisher and Founder Tom Gitaa said the event was an appropriate start to the summer-long celebration.

In Africa, the sound of drums, or a town crier would draw attention to a significant occasion, he said, calling the event “as close as possible” to that tradition.

He also said poetry serves the same purpose as griots, or West African storytellers, in modern society.

“It was definitely a great success,” Gitaa, who acted as the emcee for the event, said. “We have never done anything like that before.”

For Gitaa and guests it was an evening full of surprises.

Power of Our Voices, a youth performing arts program through Pillsbury House Theatre, contributed the first few performers of the evening.

The young poets set the tone their conviction and social consciousness. Though unregistered to perform, they were drawn to the open mic by “word-of-mouth,” like most attendees.

“They really stuck in my head,” Gitaa said. “They were kind of the encouragement.”

Performer after performer stepped to the mic, each with his or her unique style and perspective.

Inspired by the intimate setting—where poets stood feet from the audience and some avoided the use of the microphone—performers whole-heartedly tackled issues including music, religion, motherhood and romance.

Featured artist (i am) isis said the vibe inspired her, and praised the talented group for its words and wisdom.

The singer and poet is one of this summer’s Soul Train featured new artists, who specialized in her own brand of what she calls “spoken soul.” She returned to Minneapolis—her home town—from New York just for the event.

The other featured artist, Hersi, used his poetry to describe his personal experiences as a Somali-American.

“Let them know their words move you,” (i am) isis said at the event, encouraging audience participation.

As prompted, attendees shared plenty of feedback about the evening with Mshale, Gitaa said.

Throughout the affair, audience members clapped and sang along with musical acts, such as (i am)isis, and laughed along with others such as one particularly suggestive poet, who many called “refreshing.”

But in the end, Gitaa said most left with a common concern—when the next Mshale Open Mic and Poetry Jam would occur.

“It looks like there is a want out there for something like this,” he said, explaining that the idea for a similar annual event is in the works. “We’re thinking if we do it, will be more along the lines of an actual poetry slam…a competitive thing.”

The occasion was co-presented by the Loft Literacy Center, which donated its space free-of-charge.

Friends of Mshale, Paschal Nwokocha Law Offices, sponsored the open mic by contributing funding for refreshments and featured artists.

The 15th anniversary celebration continues on Aug. 27 when Mshale will host “Africa in Your Backyard,” an evening of local African musical entertainment and cuisine hosted at the Cedar in Minneapolis.

The event will begin at 7 p.m.

In addition, to round-out the summer-long celebration, Mshale will also host a soccer tournament next month.

For more information about the history of Mshale Newspaper or the anniversary celebration, visit www.mshale15years.com.

“Mshale is all about community,” Gitaa said. “We always keep our ear to the ground to see what people want and we try to be responsive to it.”

Africa Fashion Week New York: African designs on a global stage

By
beatrice
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Africa Fashion Week New York: African designs on a global stage

NEW YORK – The spirit of Africa came alive at the 2nd Annual Africa Fashion Week (AFWNY) in New York which ran July 14-16. Held in the heart of the big Apple’s financial district, AFWNY was a muti-day event which included runway shows, vendor exhibits, and industry networking events with the stated purpose of raising awareness of African Fashion/professionals.

New York based Adiree, producer of AFWNY, showcased three full days of showcasing designers from the African Diaspora.

This year’s AFWNY gave talented designers the opportunity to promote their brands on a global fashion stage. Thirty handpicked designers from different parts of Africa including Angola, Nigeria, Liberia, Cameroon, Kenya, Ethiopia, Cape Verde and Zimbabwe were featured.

The Runway segment was kicked off with a live wedding on the runway for We TV, a new reality show, airing January 2012. The bride walked down the runway wearing a design by Korto Momolu. Following Momolu were designers Kikoromeo, Gloria, Rouch, Blackbird Design, Syl Anin, Bebe Grafiti, Kachi Designs, Jo Black Craze, Bill Witherspoon, Asakeoge Couture, Washington Roberts, Danielle Martin, Fikirte Addis, Mirembe Collection, Josefa Dasilva, Kozby World, Exdexus Creations, Suakoko Betty, Nadir Tati, Editalo Designs, Tori, Sarfo of Styles, Design by U, Csilla Deri, Yashika, AAMAA a la mode, Adama Paris, Mary- Ann Kai Kai, Saint Wobil.

From the beautiful custom clothing designs to the vibrant colorful jewelry and shoes, the designers made a concerted effort to show their originality and by most accounts they pulled it off.

Who’s Who of Pan African Women leaders to gather in Minneapolis

By
Miriam Mongare
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Who's Who of Pan African Women leaders to gather in Minneapolis

Naomi Tutu, Musimbi Kanyoro, Black Latina Movement founder among speakers

Leading African women in philanthropy from across the globe are headed for Minneapolis starting August 10 for a three day gathering of the bi-annual Pan-African Women’s Action Summit (PAWAS). The summit will be held at the Minneapolis Community and technical College.

Convened by the Pan-African Women’s Philanthropy Network (PAWPNet), the Minneapolis conference will feature 12 keynote speakers including economist Dr. Julianne Malveaux, Naomi Tutu and Dr. Musimbi Kanyoro, CEO of The Global Fund for Women. South Africa’s Honorary Consul in Minnesota, Judge (Ret.) Lajune Lange of the International Leadership Institute, is among the slate of speakers.

On 18 December 2009, the United Nations General Assembly designated 2011 the International Year for People of African Descent. The Minneapolis summit is an initiative that follows and builds on the UN resolution.

“These celebrations are a sort of ‘United Nations of Giving,” says Dr. Jackie Copeland-Carson, PAWPNet Founder and Chair. “They move beyond the divisions of the global Black community to share our diverse giving traditions, mobilize resources, and increase our impact on the common challenges facing our communities-from America to Kenya; from Mozambique to Minnesota.”

Free technical assistance for nonprofits and a health & wellness fair are among the offerings at the summit. Following a pre-summit Pan-African Women’s Film Festival on August 10, the conference proper will commence August 11 and will run through Saturday, August 13.

“PAWAS 2011 highlights and supports the work of Pan-African women as they are at the forefront of community leadership, giving and volunteering,” according to Karen Kelley-Ariwoola, Vice President of Community Philanthropy at The Minneapolis Foundation.

If you plan to go:

The conference convenes August 10th-14th 2011 at Minneapolis Community & Technical College located at 1501 Hennepin Ave. S., in Minneapolis. Conference passes are available in 1-Day and 3-Day blocks.

Conference registration @ www.pawas2011.net.

What's up Africa: The latest from Ikenna Azuike

By
Mshale Staff
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What’s Up Africa is a weekly video blog produced by Radio Netherlands Worldwide.

This week Ikenna Azuike looks at Uganda, Angola and artist 50 Cent.

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California Dream Act is now law

By
New America Media
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California Dream Act is now law

The California Dream Act, Part A (AB 130) was signed into law Monday by Gov. Jerry Brown during a town hall meeting in Los Angeles hosted by Democratic Assemblymember Gil Cedillo, who sponsored AB 130 and its companion bill AB 131.

AB 130 allows the states undocumented college students to access privately funded scholarships. Its companion bill, AB 131, would allow undocumented students access to the same public financial aid U.S. citizens and legal residents are entitled to. AB 131 has not yet reached the Senate floor.

Although the two bills are referred to as the California Dream Act, they do not include a path to legalization for undocumented students. That provision is unique to the federal Development, Relief and Education for Alien Minors (DREAM) Act, which would grant conditional legal status to qualifying undocumented youths brought here before age 16 if they go to college or enlist in the military.

U.S. Women’s Soccer: Not quite America’s team

By
andres
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U.S. Women’s Soccer: Not quite America’s team

What a thrill. What pride. What a show of skill and prowess by the U.S. women’s national soccer team in the 2011 Women’s World Cup even as they lost in penalty shots to Japan on Sunday.

Too bad that this fabulous squad does not yet look like America.

Wambach made magnificent header goals; Rapinoe, great centers; Boxx, streaking shots from outside the box. I cheered them along, as they deserved to be cheered, and relished their hard-fought battle on behalf of a nation.

But my feelings were bittersweet. In a roster of 21 players, there are only two Latinas and no Blacks or Asians. In the team picture of bright, young, exuberant and inspiring faces, the hues and shades of an increasingly multicultural America are quite limited.

There is something deeply amiss in the lack of diversity on both the women’s and men’s national soccer teams—not only because one-third of the nation is missing in their composition, but because when we look at the age range of those who play soccer professionally, the gap is even more striking: 40 percent of this age group are people of color.

Given soccer’s popularity, particularly in the Latino community, the lack of diversity cannot be excused. While it can be said legitimately about golf, tennis, and swimming that the pipeline of diverse talent iis significantly limited given low participation numbers by minority children, the same cannot be said about this most populist of sports, futbol.

Yes, golf, tennis, and swimming must find ways to get more minorities involved, not only for the sake of these marginalized communities, but also for the sake of the vitality of these sports. By limiting the talent pool, is it any coincidence the United States has not dominated in golf or tennis in the past decade? Soccer has a huge built-in advantage over these other sports, even as the U.S. Tennis Association (USTA) significantly steps up its efforts to introduce tennis to 10-year-old kids of color. But colleges, the U.S. soccer teams, and pro-soccer farm systems are bypassing the massive number of female and male players of color in soccer .

As one looks at the player roster both in women’s and men’s soccer, how is it that diversity in this sport has been whitewashed?

When I played varsity soccer at Northwestern University, I was the only Latino on the team—and a walk-on from South America, not a Hispanic American—and Floyd was the only black. Granted, Northwestern’s student body was not especially diverse to begin with, but surely in the soccer subculture there should had been some sort of over-indexing of diversity.

To increase the diversity of the U.S. teams—not only be truly America’s team, but to ensure that U.S. teams remain competitive—an all-out diversity effort must be launched.

First, more minority children must be enrolled in the largest soccer youth programs. When I coached my daughter’s soccer team, the $100 fees were out of reach for many working-class Latino families. To the league’s credit, it began instituting a sliding-scale fee funded by local individuals and companies. But while this increased Latino participation a bit, the lack of relations between the white and Latino communities made it hard to spread word about the program.

And even when more Latino kids did participate, coaches— many new to the sport of soccer themselves— did not know how to reconcile the differing expectations from Latino parents when practice schedules conflicted with work schedules at the family store or other business. The “no practice, no play” principle killed any nascent enthusiasm among working-class and immigrant kids and parents.

The barriers to entry in the more competitive youth travel soccer leagues are even higher, given the $1,000 fees and faraway road games that assume parents have cars and free weekends to schlep their cleat-clad kids.

But the institutions that truly have no excuse for the lack of diversity on their soccer teams are colleges. Thousands of girls and boys nationwide are playing in soccer at their public middle and high schools. Here participation is free, school buses transport the teams to their matches, and Immigrant parents have at least some working knowledge about school culture that they don’t have about para-organizations such as AYSO (American Youth Soccer Organization) and travel soccer.

Title IX, which demanded the playing field be evened out for collegiate women in terms of budgets, facilities and scholarships, is the No. 1 reason women’s sports in the U.S. have risen to the world-class caliber we saw in Sunday’s World Cup finals match. But as in corporate America, women’s gains in soccer have unfortunately ended up being white women’s’ gains, with Black, Latina, Asian, and Native American women conspicuously absent as beneficiaries of powerfully important gender-diversity programs.

To break through, we need U.S. Soccer, college soccer scouts and parents to shift their assumptions and behaviors.

In machista societies like the Latino one, girls have to be seen as legitimately able to compete in sports for fun or career, just as boys are. Scouts need to get comfortable going into the barrio and inner-city schools and to suburbs dominated by immigrants, just as football and basketball scouts started doing a generation ago.

And U.S. Soccer can up the ante by insisting that its scouts and coaches source greater diversity for players considered to be called on to wear the U.S. uniform.

Because that uniform belongs to all of us.

A Glimmer of Hope: The U.S. Supreme Court Upholds In-State Tuition for Undocumented Youth in California

By
Igbanugo Partners International Law Firm
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Despite the lack of comprehensive immigration reform, there is a glimmer of hope for the millions of undocumented youth living in the United States. On June 6, 2011, the U.S. Supreme Court declined to hear a challenge to a California law, “AB 540,” that allows undocumented students to attend state colleges and universities at in-state tuition rates. The Supreme Court’s refusal to examine the case means that California’s undocumented immigrant youth will continue to reap the benefits of reduced tuition in the state’s institutions of higher education.


AB 540 dictates that to qualify for in-state tuition in California’s colleges and universities, students must meet three requirements. First, they must attend a California high school for three years. Second, they must graduate from that high school. Finally, students need to fill out an affidavit stating that they will apply for U.S. residence as soon as possible. Any individual who complies with these requirements, regardless of immigration status, will be offered the same tuition discounts as California residents. This ruling will have a remarkable impact on undocumented students’ capacity to attend college. For example, the University of California, Santa Barbara’s in-state tuition for the 2010-2011 school year was $11,686 compared to out-of-state tuition, which was $34,566.


The California law was challenged by the Washington-based Immigration Reform Law Institute, which represented a group of 42 students, all of whom are U.S. citizens and non-California residents. The students argued that AB 540 confers an unjust benefit to illegal immigrants based on their residence in California. In-state tuition rates are about one-third the cost charged to out of state students, and the lawsuit asserted that illegal immigrants are treated better than out-of- state legal residents applying to California’s public colleges and universities.


The Supreme Court’s refusal to examine AB 540 has far-reaching implications. The unchallenged existence of AB 540 and related laws could make higher education more affordable to the more than 65, 000 undocumented youth graduating from U.S. high schools each year. AB 540 can also open the door to expanding public scholarships for these students. Further, more states will likely follow California’s example. Even before the Court’s decision, at least 11 states had laws similar to AB 540, including Illinois, New York, Texas, New Mexico, Kansas, Nebraska, Utah, and Washington. The Court’s ruling opens the door for more states to pass laws that mirror AB 540. More importantly, it makes it extremely difficult to challenge these laws. This summer, Maryland will allow undocumented immigrants attending public colleges to pay in-state tuition. Connecticut has already passed a similar bill, and the governor has publicly stated that he plans to sign it. Oregon and Rhode Island are presently debating education benefits for undocumented youth.


With immigration being one of the most divisive issues in the current political climate, there are also many passionate opponents to AB 540 and similar laws. The 42 students who challenged the California law contend that it costs them $20,000 more in tuition and fees than undocumented immigrant youth to enroll in a public college or university in California. One of the students’ attorneys also wrote that California spends over $208 million annually to subsidize the tuition of undocumented students. Such figures are bound to infuriate many opponents who assert that AB 540 and similar provisions are fundamentally unfair because they treat undocumented students better than their U.S. citizen counterparts, many of whom are low-income earners and can barely afford a college education.


Numerous states have vowed to prevent laws similar to AB 540 from passing in their jurisdictions. Alabama legislators recently passed a law denying in-state tuition for undocumented students and barring their enrollment in colleges and universities. Alabama’s governor has indicated that he supports the bill and may sign it into law. The University System of Georgia’s Board of Regents approved a plan, which would allow public colleges and universities to prevent the admission of undocumented youth. In Massachusetts, a voter referendum campaign to ban its in-state tuition law is in full force, and South Carolina has banned illegal immigrants from attending any of its state institutions.


Despite the resistance, undocumented youth are hopeful and many feel that they have been given a second chance at life. For many of these young students, higher education was just a dream. Now, for some, it is a reality. Unfortunately, this reality may be short-lived. Even though some undocumented youth are able to attend public colleges and universities at in-state tuition rates, there is no guarantee that after they graduate from these institutions, they will have a future in the United States. Graduation produces new obstacles because many occupations require proof of lawful status in the United States.


Laws like AB 540 do not provide students with lawful status after they graduate. Essentially, these hard-working undocumented youth may be left hanging after putting in the hard work to obtain a college education. Only passage of the DREAM Act (Development, Relief, and Education for Alien Minors Act) or similar laws would allow these students to obtain lawful status. Yet, regardless of what awaits them after graduation, thousands of undocumented youth are reveling in the U.S. Supreme Court’s decision to let California law, AB 540, stand.


Nothing in this article should be taken as legal advice for an individual case or situation. The information is intended to be general and should not be relied upon for any specific situation. For legal advice, consult an attorney experienced in immigration law.


Ernst & Young Survey: Best countries to invest in Africa

By
News Agencies Mshale Team
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Ernst & Young Survey: Best countries to invest in Africa

Ernst & Young’s 2011 Africa attractiveness survey identified 17 African countries that will offer attractive Foreign Direct Investment (FDI) opportunities in the next five years.

East Africa

Ethiopia: Research from The Economist shows that Ethiopia was among the 10 fastest growing economies in the world over the past decade. Its gold mines, and the potential to exploit recently found natural gas reserves (currently 25bn cubic meters) will attract significant amounts of investment over the next few years. But poor levels of human capital, a small domestic market, underdeveloped infrastructure and high levels of bureaucracy are all barriers to investment outside of natural resources.

Rwanda: Relative to its African counterparts, Rwanda’s resource endowment is poor; the country has no significant natural resource, and its labour force is small and poorly educated. But offsetting these negatives is Rwanda’s institutional environment. The government has actively tackled corruption in recent years, and the business environment is extremely friendly. Significant investment has been made to improve infrastructure.

Democratic Republic of Congo: The DRC’s oil and mineral reserves are among the riches in Africa, and the sheer potential will continue to attract foreign investment, particularly as demand in the developed and emerging markets rises and capacity constraints are met by other producers. But poor human capital, a small domestic market, primitive infrastructure and an unfriendly business environment will all work against any attempt to attract capital to non-resource sectors of the economy. Above all, the precarious political situation, with the possibility of renewed conflict in the eastern provinces, may limit the attraction of the country to foreign investors.

Kenya: Kenya probably has the most highly developed economy in East Africa. It has a relatively well-educated and rapidly growing labour force, and is most often used as a hub by multinationals looking to develop East African markets. However, its relative lack of natural resources may make it increasingly hard for it to compete with its neighbours, and it’s still small domestic market, immature infrastructure and high levels of bureaucracy are barriers to investment that need to be addressed.

Tanzania: Driven by the rising price of gold that has increased 75% over the last three years, Tanzania’s gold reserves will continue to attract investor interest over the medium term. The country’s relatively well-educated labour force, coupled with political stability and the government’s sound macroeconomic management of the economy, will add to Tanzania’s attractiveness. But the relatively small domestic market, poor infrastructure network and high levels of bureaucracy are a barrier to further investment in the non-mineral sector of the economy.

Uganda: Uganda’s vast mineral resources and a recent discovery of oil will attract significant amounts of investment over the medium term. The country’s relatively well-educated labour force, low levels of bureaucracy and diversified economy will attract funds into the labour-intensive service sector too (e.g., communications and financial services). Offsetting these positive factors are the infrastructure network and the country’s small domestic market. In addition, following the recent disputed presidential election, political risk factors need to be taken into account.

Southern Africa

South Africa: South Africa’s substantial natural resource endowment will continue to attract investors, and its comparatively well-educated labour force will draw funds into the non-resource sectors of its diverse economy. Coupled with this, the domestic market is among the largest in Africa, the population is the richest on average (although extreme income inequality means that many people remain in poverty) and the institutional environment is relatively conducive to business. Despite these overwhelming positives, inflows to South Africa are not expected to be large relative to GDP (around 2% to 2.5%). The economy’s wealth means it can afford to fund much of its own investment, and the country is expected to be a significant source of funds for other African nations over the forecast period.

Angola: Angola’s attractiveness for FDI will remain moderate but is expected to improve between 2011 and 2015. Angola’s oil and mineral reserves will continue to be the main attraction for investors over the next five years. Enriched by the oil wealth, the country’s growing middle class will also be attractive to investors looking for new markets. But current levels of income inequality, skills shortages, underdeveloped infrastructure, and bureaucracy are all hindering efforts to attract foreign investment. As a result most FDI in Angola is likely to be focused on the natural resource sectors for the foreseeable future. Although Angola will receive a significant amount of FDI over the next five years, its expected concentration in the oil sector will limit the job creation prospects.

Mauritius: Mauritius has a well-developed infrastructure network, a highly educated workforce, a comparatively high level of income and low levels of bureaucracy, all of which are attractive to investors. Slightly offsetting these positives are labour market rigidities; in particular, the centralised wage-setting mechanism and high levels of inequality. Despite Mauritius’ positive attributes, it is expected to receive only modest amounts of FDI over the next five years. Better opportunities elsewhere, in particular in countries with large natural resource endowments or larger populations, will attract investors. Despite the modest amount of FDI, the economy’s focus on the service sector means a relatively large number of jobs will be created as a result.

Mozambique: Mozambique’s key attraction for investors is the recently established natural gas reserves, which already stand at over 127bn cubic meters. Coupled with this, significant improvements are being made to the education system and the country’s infrastructure. According to research by The Economist, Mozambique was one of the 10 fastest-growing economies in the world over the past decade, and this growth is likely to be sustained for the foreseeable future. However, the country’s relatively poor population and high levels of bureaucracy (although this too is improving) mean Mozambique will probably remain only moderately attractive to investors over the medium term.

Zambia: Zambia’s copper mines will continue to attract investors over the forecast period, with global demand expected to keep prices high for the foreseeable future. Outside of the minerals sector, prospects for FDI are less good. Zambia’s reliance on copper (which makes it vulnerable to price movements), coupled with its small domestic market, will limit the flow of capital into the rest of the economy. But the country’s business-friendly environment, sound macroeconomic management and investment in the infrastructure network should attract multinational companies into other parts of the economy.

West Africa

Nigeria: Nigeria’s oil reserves (which stood at over 36b barrels in 2007) will continue to attract funds over the medium term, and we expect a large proportion of FDI to be concentrated here. However, the large domestic market and diversified economy mean other sectors such as communications, real estate and tourism will also attract attention. Holding Nigeria back are its relative shortage of key skills, poor infrastructure and high level of bureaucracy. Ongoing perceptions of high political risk should begin to diminish after the elections.

Ghana: Ghana has a sizable resource endowment, including substantial mineral, gas and oil reserves. We expect continued investment in the oil and gas industries, contributing to the majority of FDI flows. Increasing oil revenues should indirectly boost other sectors. This is particularly true of infrastructure, although, if managed correctly, it could help fund improvements in industries such as health care and education. Ghana benefits from a stable political environment, with democracy well established and adhered to. However, Ghana needs to continue to invest in infrastructure, human capital and health care to attract more diversified FDI projects.

Senegal: Senegal has a sizable resource endowment, and its mineral resources make it an attractive location in which to invest. We expect continued investment in mineral extraction, contributing to the majority of FDI flows. Senegal also benefits from a stable political environment, with democracy well established and adhered to. A range of economic reforms have fostered a stable macroeconomic environment. However, improvements need to be made regarding human development, the business environment and infrastructure, for FDI to grow substantially.

North Africa

Egypt: Egypt oil production is expected to fall as reserves mature and run dry, but the fossil fuel sector is still expected to attract investors over the next five years. Bigger attractions for investors are Egypt’s large, relatively well-educated population, sizeable domestic market and proximity to Europe. Slightly offsetting these positives are the high levels of bureaucracy and corruption, but recent government reforms in these areas should improve the institutional environment. Assuming that the political situation is resolved and reforms are continued, Egypt will remain an attractive destination for investors in the next five years.

Morocco: Morocco’s oil reserves provide some pull for investors, but its well-educated, relatively cheap labour force is its prominent resource. Coupled with this, the country’s proximity to Europe and recently signed trade agreements with the EU and the US, make it an attractive location for multinational companies looking to service the lucrative market within the EU. These attractions are underpinned by good governance and sound macroeconomic policies. As a result of these positives, Morocco is expected to attract significant amounts of FDI over the next five years, with the expected focus of FDI inflows being in labour-intensive industries, such as tourism and construction. The negatives, which may undermine foreign interest, are the high levels of bureaucracy and potential for social unrest as a result of the high level of unemployment.

Tunisia: Although Tunisia’s oil reserves are modest (around 308m barrels), global capacity constraints mean they will continue to be attractive to investors in the near future. A potentially more attractive resource at the country’s disposal is its highly skilled labour, especially when it is coupled with Tunisia’s proximity to the lucrative EU market. And although the domestic market is small, the country’s well-established infrastructure network, good economic governance and business environment make it an attractive location for multinational companies. Potentially offsetting these positives is the political environment, which remains highly uncertain. If the new government can restore order, continue reforms and tackle unemployment, the country will continue to be a significant recipient of investment over the forecast period.

Minnesota celebrates and welcomes Refugees

By
amanda
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Minnesota celebrates and welcomes Refugees

At World Refugee Day, participants celebrate the cultures and traditions of the nearly 100,000 refugees who call Minnesota home.

Eh Taw Dwe calls himself a 7 year-old American.

Though the 35 year-old has endured physical torture, a gutsy escape from his war-torn homeland, and life in a refugee camp, the Burmese native said his move to Minnesota in 2004 meant being born again.

“It is like a new beginning,” he said, about his experience as a refugee. “Everything is restarted again.”

Dwe said he showed his support and concern for the 2 million people world-wide who share his refugee status, many who have not had his luck, when he told his story before a small crowd at Twin Cities World Refugee Day on Saturday, June 25.

“They don’t have a voice,” Dwe, an honorary chair of this year’s event, said. “So we are here to speak on their behalf.”

More than 20 local nonprofit and government organizations came together to honor, celebrate and welcome the more than 100,000 refugees from all over the world who currently reside in Minnesota at the fifth annual Twin Cities World Refugee Day in Minnehaha Park.

“I would hope refugees come away from this with a sense of pride,” Alexis Walstad the planning committee chair for the event, said. “The Twin Cities has one of the largest refugee populations in the country.”

The event offered cultural and international awareness by providing participants with the opportunity to enjoy food, crafts, and performances from all over the world. In addition, the celebration included an education tent featuring exhibits and activities that highlighted the daily struggles and human rights issues experienced by refugees.

“The best part is seeing people perform their traditions,” Dwe said. “It tells me there are people from all over the world who have suffered like I did.”

For those all too familiar with those human rights issues, Twin Cities World Refugee Day provided a different type of education—information for refugees new to Minnesota on where to go for help.

Nearly two dozen community organizations participated in a resource fair that addressed every need of a newly arrived refugee or immigrant, including language skills, employment and health.

“Too many immigrants come to this country for hope and change and don’t know how to find it,” Mohamed Hajin, from the city’s Neighborhood and Community Relations Department said.

Hajin helped host one of the booths which provided information about the program where he welcomes new residents to Minneapolis by providing one-on-one support to new families.

He knows first-hand how difficult the transition can be. In 1982, he came to the United States as a Somali refugee and said he experienced the helpless feeling that comes with learning a new way of life.

“You have to learn everything all over again,” he said. “It’s important to know where to look for help.”

He said one of the best things about the event is its ability to grant immigrants and refugees comfort and support during a difficult transition.

IBé Kaba said he wishes he would have found that type of support when he arrived from Sierra Leone.

Originally from Guinea, he said he felt alone when he first arrived in the United States, and with nobody to speak his native language with, he has all but lost that aspect of his culture.

“An event like this would have been nice,” he said, pointing out the fact that all continents were represented on the stage throughout the afternoon.

Kaba, a spoken word artist who has participated in the event every year in some capacity, said Twin Cities World Refugee Day also draws attention to the willingness of many Minnesotans to open their arms to new neighbors.

“The event is definitely growing every year,” he said. “The audience is engaged and willing to learn more about what is going on in the world.”

Despite a steady drizzle and dark, looming clouds, Walsted estimated attendance would equal its yearly average of 1,500 participants.

This year marks the first time the event received grant funding to help cover expenses. It was funded, in part, by the Minnesota Arts and Cultural Heritage fund, which was appropriated by the Minnesota State Legislature after a statewide vote. In addition, many of the participating organizations helped sponsor this year’s festivities.

In 2000, the United Nations General Assembly declared June 20th World Refugee day. Since then, people around the world have used events like Twin Cities World Refugee Day to draw awareness to refugee issues and honor their resilience, according to Walstad.

Dwe said Twin Cities World Refugee Day gives those adjusting to life in Minnesota a chance to connect with those still enduring suffering in their native countries.

“We are sending them a messaged and a wish,” he said. “I am sending my heart out to them today. We all are.”

The Congolese film that puts Pulp Fiction to shame

By
New America Media
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The Congolese film that puts Pulp Fiction to shame

It’s been nearly 20 years since a feature film was made in the Congo, but it might have been worth the wait for Viva Riva!, director Djo Munga’s new film noir about the battle over gasoline in the high-flying, low lives of the Democratic Republic of Congo’s gangland.

New America Now Host Shirin Sadeghi interviews the Congolese film director about his buzz-worthy new drama.

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