Tunis — A small Cabinet meeting, chaired by Prime Minister Kamel Madouri, Tuesday at the Government Palace in Kasbah recommended accelerating the finalisation of the draft horizontal bill related to promoting investment, taking into account the observations raised during the meeting.
At the opening of the session, the Prime Minister emphasised the importance of implementing the recommendations of the President of the Republic to establish a new developmental approach
«This approach aims to build a national economy that provides rights and guarantees for investors, ensures decent working conditions for laborers, and breaks away from practices that hinder investment and stifle initiative,» reads a Prime Ministry statement.
PM Madouri highlighted the state's commitment to improving the investment environment and attracting both local and foreign investments by initiating a series of reforms.
These reforms include enhancing infrastructure, enacting bold legislation, simplifying and digitising administrative procedures, and eliminating restrictive licenses that hinder free enterprise.
The Prime Minister stated that the horizontal investment promotion bill is one of the most important texts that must be finalised as soon as possible to address the proliferation of regulations, the fragmentation of structures, and to move toward a new system that creates dynamism in attracting both domestic and foreign investment.
«This requires improving the business climate, enhancing Tunisia's attractiveness as an investment destination, increasing investments by Tunisians abroad, facilitating access to real estate designated for investment, boosting exports, integrating into global value chains, and establishing effective and unified governance for the investment system,» he was quoted as saying in the same statement.
He emphasised that the horizontal investment bill will enable the development of the national economic structure by promoting investment in promising and priority sectors.
The Prime Minister stressed the importance of ensuring that reforms related to investment legislation meet the requirements of regulatory stability, transparency, simplified and digitised administrative procedures, and the protection of intellectual property rights.
The Premier also highlighted the need to enhance mechanisms for resolving commercial and investment disputes, promote the sustainability and protection of investments, and encourage investments that transfer and localize technologies in Tunisia.
Special attention will be given to the Tunisian diaspora by providing them with tailored procedures to incentivise their investments in Tunisia, alongside provisions to establish a supportive system for Tunisian companies to help them penetrate foreign markets, he pointed out.
Sign up for free AllAfrica Newsletters
Get the latest in African news delivered straight to your inbox
During the session, the Minister of Economy and Planning outlined the objectives, structure, and general directions of the bill, which aim to make investment a key driver for wealth creation and enhancing the competitiveness of the national economy.
He explained that, in terms of removing obstacles to improving the business climate and stimulating investment, the bill will include measures such as abolishing economic activity licenses and replacing them, where necessary, with simplified specifications.
It will also introduce a single or premium license for projects of national importance, unify the investor pathway through a single national digital platform, and restructure investment institutions by integrating them into a single entity that will serve as the sole point of contact for investors.
Additionally, the bill will address real estate issues, provide land for investment purposes, and offer financial services and products for Tunisians abroad, along with dedicated investment incentives and tools.
