Côte d’Ivoire reforms investment code to attract investors

Addis Ababa, January 23, 2025 (FMC) – The investment reform, implemented by Côte d’Ivoire in September 2024, aims to streamline administrative procedures and enhance support for businesses.

Mr. Soro Nagolo, President of the CGECI’s Business Environment and Competitiveness Commission, emphasized that the revised code seeks to create a more favorable environment for businesses by simplifying administrative processes and strengthening support for structuring projects.

The workshop served as a platform for dialogue and co-construction between the government and the business community. It provided an opportunity to present the key orientations of the revised Investment Code and inform companies about tax and customs incentives.

Ms. Sandrine Tegnan, Director in charge of facilitations at the Center for the Promotion of Investments in Côte d’Ivoire (CEPICI), highlighted the importance of on-site inspections to ensure compliance and facilitate the issuance of operating licenses.

Ms. Solange Amichia, Director General of CEPICI, emphasized the code’s focus on supporting the processing of local raw materials to increase value addition and reduce reliance on raw material exports.

The revised Investment Code includes provisions for sanctions, such as the suspension of investment code benefits for non-compliance and fines for failure to provide required documents after inspection visits.

These reforms are expected to enhance Côte d’Ivoire’s investment climate, attract foreign direct investment, and stimulate economic growth, according to reports from APA News.