Tunis, Tunisia, February 27, 2014—
IFC
,
a member of the World Bank Group, is helping the Tunisian government perform a comprehensive review of compulsory business administration procedures to improve efficiency and reduce the cost of doing business. The project works on simplifying business procedures in seven Ministries.
In collaboration with the General Directorate for Administrative Reforms and the Arab Institute of Entrepreneurs, IFC is organizing a conference to open the review process to the private sector. A participatory reform process is required to streamline the country’s regulatory framework for investment, creating a more transparent and efficient business environment.
“Complex investment procedures can be a major deterrent to investors and result in a lost opportunity for the economy,” said Anouar Ben Khelifa, Secretary of State in charge of Governance and Public Service. “Our partnership with IFC will help us create a simpler regulatory environment that can attract investment and improve the economic conditions of the country. We strongly encourage the private sector to actively participate in this project.”
During the project, the private sector will play a key part in the reform process by evaluating and proposing recommendations for simplifying business regulations. The reforms are expected to have a major impact by cutting red tape, reducing the time and cost it takes to comply with regulations, and encouraging investment and job creation in Tunisia.
“Involving the private sector in the reform process is key to the success of the project,” said Antoine Courcelle-Labrousse, IFC Resident Representative in Tunisia. “Cutting red-tape and reducing administrative complexity saves resources and expenses for both private sector and government, boosting investor confidence, growth, and, ultimately, job creation.”
IFC started work with the Ministry of Finance in 2011, to establish a process for reviewing and streamlining over 400 tax and customs regulations. This initiative is part of IFC’s Investment Climate Advisory Services in the Middle East and North Africa, which focuses on improving policies, laws, and regulations that affect domestic and foreign investments.
This project was made possible with the support of the Swiss Secretariat for Economic Affairs.
About IFC
IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector. Working with private enterprises in more than 100 countries, we use our capital, expertise, and influence to help eliminate extreme poverty and promote shared prosperity. In FY13, our investments climbed to an all-time high of nearly $25 billion, leveraging the power of the private sector to create jobs and tackle the world’s most pressing development challenges. For more information, visit
www.ifc.org
Stay Connected
