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The New Investment Framework In Tunisia

This article discusses Tunisia's new investment framework, including the new investment law and the role of the Tunisia Investment Authority, in driving towards a new development model. It explores various pillars of the socio-economic development plan and highlights the efforts to improve governance, enhance the business climate, promote the digital economy, and reduce regional disparities. The article also sheds light on the incentives and guarantees offered to investors in order to attract foreign investment and stimulate economic growth.

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The New Investment Framework In Tunisia

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  1. The New Investment Framework In Tunisia October, 10th 2018 - London

  2. Towards a New Development Model • New Investment Law • Tunisia Investment Authority

  3. towards a New development model : General Background • 2016-2020 Socio Economic Development Plan pillars 1 Speed up the implementation of good governance 2 5 4 Fulfilling the ambitions of the regions Human development & social inclusion From a low-cost economy to an economic hub 3 Green economy a driver of sustainable development • Diversified economy with high employment content • Improve business climate • Improve export capacities & further integration into the world economy • Promote digital economy as a vector of development • Improve the living conditions • Enhance the efficiency of social policies • Boost complementarity components of the education system • reinforce the citizenship spirit among youth • Strengthen the capacities of the regions and enhancing their attractiveness • Improve living conditions • Reduce disparities and interconnecting the regions • Implement the principle of positive discrimination • Fair land management respectful of ecological balances • Optimize natural resources management • Use clean production means

  4. towards a New development model : EnhancingEconomicIndicators

  5. towards a New development model : Reforms Exchange System Customs Code Logistics Framework Law • Fiscal Incentives Law • Start-up Act CompetetionLaw • Investment Law Banking Law Venture Capital code PPP Law Completed Underway https://www.tunisiappp2018.tn/en/

  6. Towards a New Development Model • New Investment Law • Tunisia Investment Authority

  7. Benchmark 2. new investmentlaw Regional Development Value added activities Employment and Skills Sustainable Development Studies Seminars Private Public Debates

  8. 2. new investmentlaw : Characteristics • Unique Interlocutor: TIA • Fast Track • Short deadlines • Traceability: Integrated Information System • Deletion of Authorizations • Recruitment of foreign skills • Accessto land for investment (non-agricultural) • 25 articles • 3 decrees • 1 decreefor authorizations Faster • Guarantees according to international standards • New Dispute Resolution Framework: Conciliation and Arbitration • Protection of intellectual property • Financial incentive system more encouraging compared to Benchmark • Tax Framework more incentive Simplier More openness Investment law More guarantees More incentives

  9. 2. new investmentlaw : New Framework of Investment In Tunisia Investment Law 25ARTICLES Entry into force : April 1st 2017 General provisions Market Access Investor’s Guarantees & Obligations Investment Governance Grants and Incentives Dispute Settlement Transitional and final provisions High Investment Council Tunisia Investment Authority Tunisian Investment Fund

  10. 2. new investmentlaw : Acess to Market Simple and clear Unique interlocuteur for investors "SILENCE COUNTS AS ACCEPTANCE" for administration Cancellation of entry authorizationsrelated to economicactivity (27 activities) Appealauthorities are identified Freedom of investment principle Deadlines are limited Deadlines 90 days 60 days 180 days 10 days The administrative authority must invite the applicant to complete his docs If the granting of the authorization requires the intervention of an administration or the TCB If no authorization period is indicated For sectors requiring authorization from the HIC (6 sectors)

  11. 2. new investmentlaw : Guarantees and Obligations Guarantees for the investor • Fair and equitable treatment • Protection against non-commercial risks • Guarantee of industrial and intellectual property • Free transfer of benefits abroad • Recourse to arbitration if litigation Investor obligations • Compliance with applicable regulations on employment, social security, health, competition, consumer protection and environmental protection, • Provide accurate and complete information on investment

  12. 2. new investmentlaw : Hiring Managerial Staff and Land Ownership Freedom to hire more management staff Employment of 30% of foreign management staff (of the total number of managerial staff) until the 3rd year. This rate is reduced to 10% from the 4th year.Beyond the percentage or the limit mentioned in the previous paragraph, the recruitment of foreign management is subject to Ministry in charge of employment approval in accordance with the labour Code. Ownership of lands Allow foreign investors to own non-agricultural lands for investments

  13. 2. new investmentlaw : Incentives Investment grants RegionalDevelopment PrioritySectors Infrastructure expenditure under regional development EconomicRegimes Material investments to master modern technologies and improve productivity Immaterial Investments Economic performance grants Research & Development Employee certification training cost Grants based on job creationcapacity Subsidy on employers’ social contribution Wage Subsidy SustainableDevelopmentGrants Regional Development areas 5 or 10 years Totally exportingcompaies 10% Total Tax exemption of benefits or reducedincometax

  14. 2. new investmentlaw : Incentives for National Interest Projects The investment cost is no less than 50 MD or the creation of 500 jobs within three years. - Deduction of profits from the corporate tax base, up to ten years, - Investment grant up to one third of the investment cost, with a ceiling of 30 MD, - Contribution to the expenses resulting from external infrastructure works.

  15. Towards a New Development Model • New Investment Law • Tunisia Investment Authority

  16. Tunisia Investment Authority Boards Contact Services System Mission About

  17. Coordinate with sectoral agencies to ensure consistency of actions encouraging private investment Unique interlocutor, identification of potential investors, assistance, monitoring, after care Simplify and harmonize procedures for the investor in coordination with other relevant agencies & administrations Ensure compliance with deadlines and standardize the treatment of investment projects Coordination sectoral agencies Boards System Contact Services Mission About Investment Policies and Reforms Unique Interlocutor A force of proposals in terms of strategy, investment policies and reforms, in consultation with the private sector

  18. Technical Departments Authority’s Council Strategic council Evaluation of the business climate Recommendations concerning the strategic choices and the public policies related to investment. Investment Policies and Reforms Assistance to Investor Incentives Support … Ensures the proper functioning of the administrative management and the implementation of its general policy. Boards Contact Services System Mission About Public and Private

  19. “The TIA is the Unique Interlocutor for local and foreign investors. With its network of partners, it positions itself as the facilitator for the concretization of investment projects through reliable information, fluid procedures and personalized support” Boards Contact Services System Mission About Excellence Transparency Consistency

  20. Promotion of Industry and Innovation Agency (APII) National Office of Tunisian Crafts (ONA) Boards Contact Services System Mission About Export Promotion Center (CEPEX) Promotion of Agricultural Investments Agency (APIA) National Office of Tunisian Tourism (ONTT) Foreign International Promotion Agency (FIPA)

  21. Investment Declaration 06 Authorization request Incentive request Legal constitution Boards Contact Services System Mission About 01 02 05 04 Claims/ Requests 03 National Interest Projects

  22. Boards Contact Services System Mission About www.tia.gov.tn Tunisia Investment Authority

  23. Thank You

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