Improving the business environment in Tunisia

27 February 2017

By Salah Dakhlaoui, Managing Partner in our partner firm in Tunisia: Dakhlaoui & Partners

In order to achieve legal and regulatory stability, the Tunisian government has created a solid legal framework consisting of a set of laws and policies that also aims to improve the business environment in Tunisia.

Indeed, the Law on investment is part of the new generation of economic reforms under the policy of diversification of the economy adopted by the Tunisian government. It regulates the framework for foreign direct investment in order to adapt it to the place foreign capital has in the national economy.

The Law provides an efficient and effective framework that addresses the negative aspects of activities that are of little use to the country, such as importing and buying for resale.

As such, the new Law has established a system of guarantees and obligations for foreign investors allowing them a treatment no less favorable to the Tunisian investor and has provided for a guarantee of protection of both their property and intellectual property rights in accordance with the legislation in force.

In addition, the 29 April 2016 Law relating to collective proceedings in Tunisia is intended to organize the payment of debtors of a company when it no longer has the necessary funds to settle its debts; it aims at avoiding bankruptcies and preserving businesses and jobs.

Moreover, strengthening the rules of good governance in credit institutions remains among the main novelties of the Banking Law No. 2016-48 of July 11, 2016 compared to that of 2001 due to the sensitivity of the banking system.

Notably, the new banking law offers an opening rich in opportunities for banks, financial institutions as well as new financial intermediaries.