The Investment Policy Review examines Tunisia’s investment regime and how it has influenced investor decisions, as well as its shortcomings under the former political regime. It reflects on developments after the 2011 revolution which opened the way for enhanced reforms on investment, including the preparation of a new Investment Code. The new authorities also show commitments to enhance responsible business conduct and to improve the investment framework in support of a green economy. In recognition of recent efforts to enhance its investment climate, Tunisia became the 44th country to adhere to the OECD Declaration on International Investment and Multinational Enterprises. As an adherent to the Declaration, Tunisia commits to providing national treatment to foreign investors – within the limits of the legal restrictions mentioned in the Review – and to promoting responsible business conduct, in line with the OECD Guidelines on Multinational Enterprises, including through the establishment of a National Contact Point. In turn, the country benefits from similar assurances from other adherents to treat Tunisian investors fairly.
Table of contents:
Acronyms and abbreviations Introduction and executive summary Chapter 1. The economic situation and the role of foreign direct investment in Tunisia -Macroeconomic context -The role of FDI in Tunisia’s development -Foreign investor participation in privatisation programmes. -Bibliography Chapter 2.Tunisia’s investment regime and the National Treatment Instrument -Main features of Tunisia’s investment regime -Principle of non-discrimination vis-à-vis foreign direct investments -Transfer of capital -Exceptions to national treatment notified by Tunisia -Measures notified by Tunisia for transparency -Reforms undertaken to liberalise investment restrictions -International investment incentives and disincentives -Conflicting requirements -FDI Regulatory Restrictiveness Index for Tunisia Chapter 3.Tunisia’s adherence to the OECD Guidelines for Multinational Enterprises -National Contact Point -General principles for promoting responsible business conduct -Disclosure -Human rights -Employment and industrial relations -Environment -Combating corruption, bribe solicitation and extortion -Consumer interests -Bibliography Chapter 4.Tunisia’s policy framework for investment -Investment policy -Investment promotion and facilitation -Trade policy -Competition policy -Infrastructure development -Development of the financial sector -Bibliography Chapter 5.Investment framework for green growth -Tunisia’s commitment to green growth -Regulatory framework and policies for green investment -Institutional capacity to design and implement green investment policies -Incentives for green investment -Private sector participation in green infrastructure -Bibliography Annex A. Tunisia’s exceptions to national treatment Annex B.Statistical tables Annex C.Bilateral investment agreements concluded by Tunisia Annex D.Double-taxation treaties concluded by Tunisia Annex E.Trade agreements in force in Tunisia. Annex F.Tunisia’s participation in international organisations and ratification of international treaties