The International Finance Corporation (IFC), member of the World Bank (WB), has granted Tunisia a donation worth 625,000 Euros for the revision of the Investment Incentives Code.
The agreement was signed, Wednesday at the Government Palace, between Messrs. Riadh Bettaeib, Minister of Investment and International Cooperation and Magdi Amin, chief investment officer at IFC.
Under the agreement, IFC is committed to providing technical assistance to Tunisia by making available experts in the field, while ensuring monitoring of the revision of the code.
Mr. Bettaeib said that developing the new code requires 14 months of work, including 4 months to finalize the draft code in view of its submission to the National Constituent Assembly (ANC) in early 2013.
The remaining 10 months, he said, will be devoted to the establishment of mechanisms able to implement it and the initiation of the Tunisian administration to the new code.
He said the new code of investment incentives must meet the investment needs in Tunisia and open new channels to Tunisian and foreign investors.
For its part, the IFC representative noted that it was agreed with Tunisia to give priority to the achievement of investment in Tunisia, to assess the actual situation regarding investment in addition to consultations with various stakeholders.