Those recommendations have been heard and put into practice. After the establishment of the one-stop shop for the facilitation of business creation formalities in Côte d'Ivoire, under the aegis of the Côte d'Ivoire Investment Promotion Center (CEPICI), consultations with the various stakeholders of the private sector and the government were carried out to produce a new investment code in line with the needs of investors.
This new text expected by all economic operators officially came into effect on August 1, 2018, with the ambition to boost the growth rate of foreign direct investment (FDI) in the country. Among the new provisions, the new investment code strengthens the tax exemptions granted to companies according to the sector of activity and the region of investment. These exemptions can reach up to a 75% reduction on the tax on profits over a period of up to 15 years.
The 2018 investment code also gives an important place for the growth of local businesses by encouraging large companies and foreign SMEs willing to invest in the country, to rely on local companies in the conduct of their activities to benefit from a range of tax advantages.
Finally, Article 38 of the Investment Code has recognized CEPICI's central role as the principal interlocutor for investors.
The full text of Côte d'Ivoire's investment code 2018 is available on the website of Côte d'Ivoire's investment promotion centre.