Tunis, Tunisia, October 30, 2012−IFC,
a member of the World Bank Group, is supporting the Government of Tunisia
as it is simplifies business regulations, making it easier for private
sector companies to generate investment, expand,
and create jobs.
IFC will assist the government,
in collaboration with the Presidency of the Government, in reviewing and
streamlining procedures that affect businesses. Reducing bureaucratic complexities
will help create an even more business friendly climate for investors and
entrepreneurs, encouraging economic development across the country. The
reforms will also enable the Government of Tunisia to improve its efficiency
and transparency and reduce room for discretion in the application of these
“Our partnership with IFC will help us support
investments, lower compliance burdens on the private sector, and create
a lucrative and effective investment framework for businesses,”
said Riadh Bettaieb, Minister of Investment and International Cooperation.
The project builds on an effort initiated
in 2011 by the Tunisian Ministry of Finance, with support from IFC, to
review and simplify over 400 tax and customs procedures.
“Excess regulations can discourage investors
and make it difficult to comply with public policies,” said Magdi M. Amin,
IFC Manager of the Investment Climate Business Line in the Middle East
and North Africa. “When the private sector and government work together
to make rules simple and transparent, it helps businesses save time and
money, which they can use to grow their businesses and create jobs.”
The initiative, called the Reform of Business
will involve nine ministries. Recommendations to reform business procedures
will be submitted to government by March 2013, with implementation scheduled
for March 2014.
This initiative is part of IFC’s Investment
Climate program in Tunisia, which focuses on creating a business friendly
environment to attract investment.
It also aims to better link the educational sector to private sector needs,
review the investment code, and strengthen the bankruptcy regime.
This project was made possible with the support
of Switzerland’s State Secretariat for Economic Affairs (SECO).
IFC, a member of the World Bank Group, is
the largest global development institution focused exclusively on the private
sector. We help developing countries achieve sustainable growth by financing
investment, mobilizing capital in international financial markets, and
providing advisory services to businesses and governments. In FY12, our
investments reached an all-time high of more than $20 billion, leveraging
the power of the private sector to create jobs, spark innovation, and tackle
the world’s most pressing development challenges. For more information,
The Economic Cooperation and Development
Division at the Swiss State Secretariat for Economic Affairs (SECO) designs
and implements economic and trade policy measures with selected advanced
developing and transition countries. In the Middle East and North Africa,
where Switzerland has been active for many years, SECO is in the process
of ramping up its engagement in priority countries Egypt and Tunisia as
well as around specific themes on a regional level. This includes the strengthening
of its partnership with IFC in the area of business environment reforms,
broadening access to finance for SMEs and supporting education. Through
its support, SECO aims to promote economically, environmentally and socially
sustainable growth that will create new jobs, encourage higher productivity,
and contribute to reducing poverty and inequality. This is a priority which
drives Switzerland’s economic cooperation with Tunisia. For more information,
please visit www.seco-cooperation.admin.ch.