Addis Ababa — Preparations are in high gear towards Cape Verde's second National Forum on Transformation which holds from 14-16 May on a "constructive review of the progress and plan for the future." The forum, is being organized by the Cape Verde Centre for Strategic Policies in collaboration with a number of partners, including the Economic Commission for Africa.

According to the organizers, the forum will aim to come up with "robust and innovative strategies" to buttress the country's vision for economic transformation. Specifically, experts will propose strategies to avoid the middle-income trap, which they say is tied to the consequences of low investment levels, slow growth, limited diversification of the production base, and limited labor market conditions.

The Forum will look into a number of challenges, including the country's high unemployment rate, particularly among young people, the lack of adequate infrastructure and other significant constraints related to foreign aid and foreign direct investment.

The second gathering comes a decade after the first National Transformation Forum that was held in 2003 and which led to many improvements in the country, such as the expansion of its economic base; and the emergence of a services-based economy, where tourism, agribusiness and fishing are becoming potential dynamic sectors. Among other gains, the country has graduated from the United Nations' list of Least Developed Countries, with a rapid growth in income levels and substantial reduction in poverty.

Furthermore, the country has embarked on numerous reforms aimed at reducing corruption and improving the quality of transactions. There is a growing acclaim for the progress made on the path to achieving the eight MDGs; and by 2015, the country will have reduced poverty by half.