Benin
Overview
Benin officially the Republic of Benin, and also known as Benin Republic is a country in West Africa. It borders Togo to the west, Nigeria to the east and Burkina Faso and Niger to the north; its short coastline to the south leads to the Bight of Benin.
Economy
The economy of Benin remains underdeveloped and dependent on subsistence agriculture, cotton production, and regional trade. In order to raise growth, Benin plans to attract more foreign investment, place more emphasis on tourism, facilitate the development of new food processing systems and agricultural products, and encourage new information and communication technology. Specific projects to improve the business climate include reforms to the land tenure system, the legal system and the financial sector. An insufficient electrical supply continues to adversely affect Benin's economic growth though the government recently has taken steps to increase domestic power production. Private foreign direct investment is small, and foreign aid accounts for the majority of investment in infrastructure projects. Benin has appealed for international assistance to mitigate piracy against commercial shipping in its territory.
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