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Cape Verde Institutional Building Design & Construction Industry Analysis
The institutional building construction industry in Cape Verde is currently facing a number of challenges, which are affecting the growth of the sector. One of the main challenges is the lack of government funding for infrastructure projects, which has limited the number of institutional building construction projects that are being undertaken in the country.
Another major challenge facing the institutional building construction industry in Cape Verde is the lack of skilled labor in the market. This has led to delays in construction projects and increased costs, as builders have to rely on unskilled labor or bring in workers from other countries.
Additionally, the high cost of construction materials and the lack of access to credit for small and medium-sized construction companies are also having a negative impact on the industry.
Despite these challenges, the institutional building construction industry in Cape Verde has potential for growth in the future. The country's population is growing, and there is increasing demand for new homes, schools, hospitals, and other public buildings. The government is also starting to invest more in infrastructure, which could help to increase the number of institutional building construction projects in the country. The country is also a popular tourist destination which could also lead to an increase in hotel and tourism-related projects.
However, it's also important to mention that the recent COVID-19 pandemic has also affected the industry, with delays and uncertainty in the short term.
Overall, the institutional building construction industry in Cape Verde is currently facing a number of challenges, but has the potential for growth in the future. The industry will likely continue to face challenges in terms of lack of funding, skilled labor and high cost of materials. However, with a growing population, increasing government investment in infrastructure, and a growing tourism industry, the industry has the potential to make a significant contribution to the country's economy and development in the years to come.
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