Bill to amend investment law submitted to Parliament, says chair of tourism committee

Tunis: A bill to amend the investment law (No. 71 for 2016) has been submitted to the Assembly of People's Representatives (ARP) by 17 MPs, head of the ARP's tourism committee, Yassine Mami, told TAP on Wednesday. This bill has been referred to the Strategic Planning, Transport, Infrastructure and Urban Development Committee for review. The MP pointed out that the draft law had been prepared in a participatory manner, based on the opinions of experts, specialists and investors. It aims to address the shortcomings of the current investment law in order to stimulate domestic and international investment and promote economic recovery. "The draft law provides for the simplification and digitalisation of administrative procedures in order to reduce the bureaucracy of the Tunisian administration and shorten the waiting time for investors to launch their projects. According to the bill document, "public services are obliged to respond to any request for administrative services within a period not exceeding three months, and in the absence of a response, silence is considered as implicit acceptance of the request". The bill also provides for a review of the incentives and privileges granted to young entrepreneurs and SMEs in order to encourage entrepreneurship and prevent the emigration of young Tunisian talents. This legislative initiative also aims to enshrine the principle of absolute freedom of investment in Tunisia by expanding the areas of direct investment and limiting the number of activities subject to authorisation. Mami recalled that the growth rate in Tunisia was limited to 0.4% in 2023, according to an initial estimate by the National Institute of Statistics, and reiterated that investment is one of the essential engines for boosting growth. Source: Agence Tunis Afrique Presse