{"id":1,"date":"2024-10-16T03:36:23","date_gmt":"2024-10-16T03:36:23","guid":{"rendered":"https:\/\/ags-dici.com\/?p=1"},"modified":"2024-10-24T03:00:24","modified_gmt":"2024-10-24T03:00:24","slug":"investment-climate-statements-cote-divoire-by-us-department-of-state-2023","status":"publish","type":"post","link":"http:\/\/ags-dici.com\/fr\/investment-climate-statements-cote-divoire-by-us-department-of-state-2023\/","title":{"rendered":"D\u00e9clarations sur le climat d\u2019investissement : C\u00f4te d\u2019Ivoire par D\u00c9PARTEMENT D\u2019\u00c9TAT AM\u00c9RICAIN 2023"},"content":{"rendered":"
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R\u00c9SUM\u00c9 EX\u00c9CUTIF<\/h2>\n

La C\u00f4te d\u2019Ivoire offre de nouvelles opportunit\u00e9s passionnantes pour les investissements am\u00e9ricains. Il affiche l\u2019un des taux de croissance \u00e9conomique soutenus les plus rapides d\u2019Afrique subsaharienne, gr\u00e2ce \u00e0 pr\u00e8s d\u2019une d\u00e9cennie de croissance du PIB r\u00e9el d\u2019une moyenne de 8,2 % (entre 2012 et 2019), qui s\u2019est r\u00e9v\u00e9l\u00e9e r\u00e9siliente au pire de la pand\u00e9mie (enregistrant une croissance de 2 % en 2020 et 2019). 7 pour cent en 2021). Malgr\u00e9 les chocs \u00e9conomiques externes mondiaux, la croissance devrait se maintenir \u00e0 5,5 pour cent en 2022 et \u00e0 6,2 pour cent en 2023. En tant que moteur \u00e9conomique de l'Afrique de l'Ouest francophone, la C\u00f4te d'Ivoire repr\u00e9sente plus de 39 pour cent du total de l'Union mon\u00e9taire ouest-africaine (UEMOA). ). Le franc CFA, index\u00e9 sur l\u2019euro, a att\u00e9nu\u00e9 certaines des retomb\u00e9es de l\u2019invasion de l\u2019Ukraine par la Russie, comme les pics d\u2019inflation. Jusqu\u2019\u00e0 pr\u00e9sent, l\u2019inflation est rest\u00e9e relativement stable, allant de 4,7 \u00e0 5 % en 2022.<\/p>\n

La C\u00f4te d\u2019Ivoire fournit des lignes d\u2019approvisionnement vitales au Sahel et \u00e0 la r\u00e9gion francophone de l\u2019Afrique de l\u2019Ouest au sens large. Les visites du secr\u00e9taire adjoint au Commerce, Don Graves, et du candidat de la Banque mondiale, Ajay Banga, refl\u00e8tent l'importance r\u00e9gionale du pays et ses solides relations bilat\u00e9rales avec les \u00c9tats-Unis. Les autorit\u00e9s ivoiriennes continuent de donner la priorit\u00e9 aux r\u00e9formes structurelles visant \u00e0 am\u00e9liorer l'environnement des affaires, \u00e0 moderniser l'administration publique, \u00e0 accro\u00eetre le capital humain et \u00e0 stimuler la productivit\u00e9 et le d\u00e9veloppement du secteur priv\u00e9.<\/p>\n

Avec pr\u00e8s de 70 pour cent de la population cible vaccin\u00e9e contre le COVID-19 et une \u00e9conomie qui est rest\u00e9e r\u00e9siliente tout au long de la pand\u00e9mie, la C\u00f4te d\u2019Ivoire constitue un exemple de politique astucieuse. Le Plan de d\u00e9veloppement national et la Strat\u00e9gie 2030 du gouvernement visent \u00e0 num\u00e9riser le gouvernement pour une \u00e9conomie plus transparente et inclusive. Il ordonne au gouvernement de mettre en \u0153uvre des politiques visant \u00e0 transformer l\u2019\u00e9conomie en l\u2019\u00e9loignant de l\u2019orientation vers l\u2019exportation de mati\u00e8res premi\u00e8res et en augmentant la contribution de la transformation \u00e0 valeur ajout\u00e9e au PIB et \u00e0 la cr\u00e9ation d\u2019emplois. Ensemble, ces efforts et son importante base manufacturi\u00e8re, juste derri\u00e8re le Nigeria dans la r\u00e9gion, offrent des opportunit\u00e9s pour la technologie, l\u2019ing\u00e9niosit\u00e9 et les services am\u00e9ricains.<\/p>\n

En f\u00e9vrier, l\u2019agence de cr\u00e9dit Fitch Ratings a r\u00e9affirm\u00e9 la note de d\u00e9faut \u00e0 long terme des \u00e9metteurs en devises du pays \u00e0 BB- avec une perspective stable et a ainsi confirm\u00e9 les solides perspectives de croissance de la C\u00f4te d\u2019Ivoire malgr\u00e9 de faibles indicateurs de d\u00e9veloppement et une forte d\u00e9pendance aux mati\u00e8res premi\u00e8res. Le FMI a soulign\u00e9 en avril les mesures prises par la C\u00f4te d'Ivoire pour renforcer la stabilit\u00e9 macro\u00e9conomique et inverser les d\u00e9s\u00e9quilibres budg\u00e9taires et ext\u00e9rieurs croissants, dans le cadre d'un accord au niveau des services sur les politiques et les r\u00e9formes \u00e9conomiques qui seront soutenues par un nouvel accord de 40 mois d'environ 3,5 milliards de dollars au titre du Facilit\u00e9 de Fonds Elargie\/Facilit\u00e9 de Cr\u00e9dit Elargie.<\/p>\n

La d\u00e9couverte de r\u00e9serves de gaz et de p\u00e9trole et les n\u00e9gociations en cours pour un pacte \u00e9nerg\u00e9tique r\u00e9gional avec la Millennium Challenge Corporation (MCC) renforcent le r\u00f4le de la C\u00f4te d\u2019Ivoire en tant que p\u00f4le \u00e9nerg\u00e9tique r\u00e9gional. L\u2019investissement du pays dans des partenariats public-priv\u00e9 dans le secteur \u00e9nerg\u00e9tique refl\u00e8te cette croissance, passant de 5,5 millions de dollars en 2011 \u00e0 plus de 810 millions de dollars en 2020. Le pays reste l\u2019un des principaux fournisseurs r\u00e9gionaux d\u2019\u00e9lectricit\u00e9 des pays voisins, comme le Mali et le Burkina Faso. Un \u00e9ventuel accord r\u00e9gional du MCC avec la C\u00f4te d\u2019Ivoire vise \u00e0 am\u00e9liorer les infrastructures \u00e9nerg\u00e9tiques r\u00e9gionales et \u00e0 distribuer l\u2019\u00e9nergie \u00e0 travers l\u2019Afrique de l\u2019Ouest de mani\u00e8re plus rentable. La C\u00f4te d\u2019Ivoire conserve encore plusieurs blocs inexplor\u00e9s, ou en cours d\u2019exploration, et ambitionne d\u2019attirer davantage d\u2019acteurs industriels. La C\u00f4te d\u2019Ivoire propose souvent des contrats \u00ab take or pay \u00bb comme garantie uniquement dans le secteur gazier. Conform\u00e9ment \u00e0 ses engagements lors de la COP26, la C\u00f4te d\u2019Ivoire cherche \u00e0 investir davantage dans la nouvelle production d\u2019\u00e9nergies renouvelables, en visant 45 % d\u2019\u00e9nergies renouvelables d\u2019ici 2030, comme l\u2019\u00e9nergie solaire et la biomasse.<\/p>\n

Les entreprises am\u00e9ricaines op\u00e8rent avec succ\u00e8s dans plusieurs secteurs ivoiriens, notamment l\u2019exploration et la production p\u00e9troli\u00e8res et gazi\u00e8res ; l'agriculture et la transformation agroalimentaire \u00e0 valeur ajout\u00e9e ; production d'\u00e9lectricit\u00e9 et \u00e9nergies renouvelables; Prestations informatiques\u00a0; l'\u00e9conomie num\u00e9rique; bancaire; assurance; et les infrastructures. Abidjan abrite l\u2019un des ports les plus actifs de la r\u00e9gion, le port de San Pedro gagnant en importance et en connectivit\u00e9. La comp\u00e9titivit\u00e9 des entreprises am\u00e9ricaines dans les services de technologies de l\u2019information et de cybers\u00e9curit\u00e9 est illustr\u00e9e par l\u2019offre de solutions innovantes utilisant les derni\u00e8res technologies et la promotion des valeurs de transparence et d\u2019\u00c9tat de droit. Les entreprises am\u00e9ricaines ont continu\u00e9 d\u2019exhorter le gouvernement ivoirien \u00e0 am\u00e9liorer concr\u00e8tement les indicateurs de conduite des affaires, notamment les retards administratifs syst\u00e9miques associ\u00e9s \u00e0 un processus d\u00e9cisionnel hautement bureaucratique, afin d\u2019attirer davantage d\u2019investissements directs \u00e9trangers. Les repr\u00e9sentants des entreprises commentent les d\u00e9fis li\u00e9s au climat d\u2019investissement, citant les difficult\u00e9s au point d\u2019entr\u00e9e pour obtenir le financement et les approbations gouvernementales n\u00e9cessaires pour op\u00e9rer en C\u00f4te d\u2019Ivoire. Un syst\u00e8me fiscal trop complexe et des processus d\u00e9cisionnels gouvernementaux lents et opaques freinent \u00e9galement l\u2019investissement. En juin 2022, le gouvernement a annonc\u00e9 la cr\u00e9ation d'un bureau anglophone ax\u00e9 sur l'investissement, un guichet unique comblant le foss\u00e9 linguistique pour les investisseurs \u00e9trangers afin de faciliter les investissements anglophones et de diversifier les partenaires d'investissement \u00e9trangers ; le bureau propos\u00e9 est un engagement pr\u00e9cieux mais pas encore op\u00e9rationnel.<\/p>\n

La C\u00f4te d'Ivoire met en \u0153uvre avec succ\u00e8s sa partie du corridor Abidjan-Lagos, un accord sous-r\u00e9gional entre le Nigeria, le B\u00e9nin, le Togo, le Ghana et la C\u00f4te d'Ivoire visant \u00e0 faciliter la libre circulation des biens et des personnes et \u00e0 promouvoir l'int\u00e9gration r\u00e9gionale en Afrique c\u00f4ti\u00e8re de l'Ouest. Il est membre de la Zone de libre-\u00e9change continentale africaine (ZLECAf), l'un des premiers pays de la r\u00e9gion \u00e0 ratifier l'accord. Ces cadres faciliteront le commerce au sein de la r\u00e9gion et du continent, \u00e9largissant les opportunit\u00e9s pour le commerce international. Cette ann\u00e9e, le gouvernement a agrandi la nouvelle zone industrielle Akoup\u00e9-Zeudji, renfor\u00e7ant l'accessibilit\u00e9 et la disponibilit\u00e9 des terrains industriels pour les investisseurs potentiels. Le gouvernement est sur le point d'achever une autoroute reliant les deux principaux ports : le port d'Abidjan et le port de San Pedro. En ao\u00fbt 2022, les garde-c\u00f4tes am\u00e9ricains ont retir\u00e9 la C\u00f4te d\u2019Ivoire de leur liste d\u2019avis de s\u00e9curit\u00e9 portuaire, soulignant que le pays maintient des mesures antiterroristes efficaces dans ses ports. Cela refl\u00e8te l\u2019importance croissante de la C\u00f4te d\u2019Ivoire en tant que partenaire de s\u00e9curit\u00e9 maritime et emplacement pour davantage d\u2019activit\u00e9s r\u00e9gionales de fret et de plate-forme logistique.<\/p>\n

Le gouvernement s\u2019est engag\u00e9 \u00e0 renforcer les syst\u00e8mes de s\u00e9curit\u00e9 dans les r\u00e9gions du nord du pays pour \u00e9viter que l\u2019instabilit\u00e9 politique croissante chez les voisins du nord et de l\u2019ouest, le Burkina Faso, le Mali et la Guin\u00e9e, ne sape la confiance des investisseurs ou n\u2019augmente l\u2019ins\u00e9curit\u00e9 dans le pays. Le gouvernement am\u00e9ricain soutient ces efforts \u00e0 travers la Strat\u00e9gie c\u00f4ti\u00e8re de l\u2019Afrique de l\u2019Ouest visant \u00e0 pr\u00e9venir les conflits et \u00e0 promouvoir la stabilit\u00e9. L\u2019augmentation des investissements dans cette r\u00e9gion importante offre des opportunit\u00e9s aux entreprises am\u00e9ricaines.<\/p>\n

La C\u00f4te d\u2019Ivoire poss\u00e8de une main-d\u2019\u0153uvre forte et jeune, avec plus de 70 pour cent de sa population \u00e2g\u00e9e de moins de 35 ans. Le gouvernement a mis en place des incitations et des programmes pour accro\u00eetre l\u2019emploi des jeunes. Un domaine potentiel de croissance est le secteur des technologies de l\u2019information. Les utilisateurs d'Internet et du t\u00e9l\u00e9phone ont consid\u00e9rablement augment\u00e9 dans les zones urbaines et rurales, avec plus de t\u00e9l\u00e9phones portables que d'habitants, facilitant ainsi la communication \u00e0 l'int\u00e9rieur du pays. La C\u00f4te d\u2019Ivoire a con\u00e7u une strat\u00e9gie nationale de d\u00e9veloppement num\u00e9rique, estim\u00e9e \u00e0 3 milliards de dollars, visant \u00e0 d\u00e9velopper les infrastructures et services num\u00e9riques.<\/p>\n

Le gouvernement a commenc\u00e9 \u00e0 rationaliser les proc\u00e9dures op\u00e9rationnelles dans certains secteurs, tels que les march\u00e9s publics, la fiscalit\u00e9 et la r\u00e9glementation. Le gouvernement a identifi\u00e9 la TVA (taxe sur la valeur ajout\u00e9e), l'exploitation mini\u00e8re, la num\u00e9risation et les imp\u00f4ts fonciers comme des domaines cl\u00e9s pour \u00e9largir l'assiette fiscale et am\u00e9liorer les recettes de l'\u00c9tat ; cependant, des d\u00e9fis demeurent. De nouvelles proc\u00e9dures de passation des march\u00e9s publics adopt\u00e9es en 2019 ont \u00e9t\u00e9 mises en \u0153uvre en 2021, notamment la mise en \u0153uvre d'un module de passation des march\u00e9s publics en ligne et des proc\u00e9dures am\u00e9lior\u00e9es d'\u00e9valuation, de priorisation, de s\u00e9lection et de suivi. Il s\u2019agit d\u2019un travail en cours et les investisseurs ont exprim\u00e9 leurs inqui\u00e9tudes quant au fait que ces proc\u00e9dures ne sont pas appliqu\u00e9es de mani\u00e8re coh\u00e9rente ou transparente. Des pr\u00e9occupations similaires circulent concernant les proc\u00e9dures fiscales, notamment les cotisations r\u00e9troactives bas\u00e9es sur des changements dans les formules fiscales. D'autres d\u00e9fis incluent les faibles niveaux d'alphab\u00e9tisation, de d\u00e9veloppement des comp\u00e9tences et de revenus ; le faible acc\u00e8s au cr\u00e9dit pour les petites entreprises ; corruption; et la n\u00e9cessit\u00e9 imm\u00e9diate d\u2019\u00e9largir l\u2019assiette fiscale pour all\u00e9ger une partie du fardeau fiscal des entreprises.<\/p>\n

Le gouvernement a mis en place SPACIA, une plateforme en ligne pour signaler la corruption. Les audits strat\u00e9giques ont \u00e9galement conduit \u00e0 l\u2019arrestation de plusieurs responsables pr\u00e9sum\u00e9s corrompus. Transparency International a r\u00e9v\u00e9l\u00e9 en 2023 que la C\u00f4te d'Ivoire avait am\u00e9lior\u00e9 son indice de perception de la corruption, progressant de six places au-dessus du classement de l'ann\u00e9e derni\u00e8re et entrant dans le top 100. De hauts responsables gouvernementaux ont soulign\u00e9 leur volont\u00e9 politique de lutter contre le fl\u00e9au de la corruption, qui continue d'entraver le d\u00e9veloppement de la C\u00f4te d'Ivoire. \u00e9conomie.<\/p>\n\n\n\n\n\n\n\n
Table 1: Key Metrics and Rankings<\/strong><\/caption>\n
\n

Measure<\/b><\/p>\n<\/th>\n

\n

Year<\/b><\/p>\n<\/th>\n

\n

Index\/Rank<\/b><\/p>\n<\/th>\n

\n

Website Address<\/b><\/p>\n<\/th>\n<\/tr>\n

\n

Indice de perception de la corruption de TI<\/b><\/p>\n<\/td>\n

\n

2022<\/p>\n<\/td>\n

\n

99 of 180<\/p>\n<\/td>\n

\n

http:\/\/www.transparency.org\/
research\/cpi\/overview<\/a><\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Rapport Doing Business de la Banque mondiale<\/b><\/p>\n<\/td>\n

\n

2020<\/p>\n<\/td>\n

\n

110 of 190<\/p>\n<\/td>\n

\n

http:\/\/www.doingbusiness.org\/
en\/rankings<\/a><\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Indice mondial de l'innovation<\/b><\/p>\n<\/td>\n

\n

2022<\/p>\n<\/td>\n

\n

109 of 131<\/p>\n<\/td>\n

\n

https:\/\/www.globalinnovationindex.org\/
analysis-indicator<\/a><\/span><\/p>\n<\/td>\n<\/tr>\n

\n

IDE am\u00e9ricain dans le pays partenaire (M$ USD, positions historiques des stocks)<\/b><\/p>\n<\/td>\n

\n

2019<\/p>\n<\/td>\n

\n

-$1<\/p>\n<\/td>\n

\n

https:\/\/apps.bea.gov\/international\/
factsheet\/<\/a><\/span>\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

RNB par habitant de la Banque mondiale<\/b><\/p>\n<\/td>\n

\n

2021<\/p>\n<\/td>\n

\n

$2,420<\/p>\n<\/td>\n

\n

http:\/\/data.worldbank.org\/indicator\/
NY.GNP.PCAP.CD<\/a><\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/section>\n

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1. Ouverture et restrictions aux investissements \u00e9trangers<\/h3>\n
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\u00a0<\/div>\n
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Politiques en faveur des investissements directs \u00e9trangers<\/h3>\n

Le gouvernement encourage activement les IDE et s'engage \u00e0 les accro\u00eetre. La pr\u00e9paration du Plan National de D\u00e9veloppement 2021-2025 (Plan National de D<\/i>\u00e9<\/i>d\u00e9velopper<\/i>pe<\/i>ment\u00a0<\/i>or PND) was formulated after a comprehensive review of the main achievements, remaining challenges, and additional strategic priorities from the previous 2016-2020 PND. The 2021-2025 PND process was a collaborative effort, including consultations with civil society, the private sector, local government, and development finance institutions (DFIs). The government recognizes it cannot achieve its ambitious PND investment goals without increasing private investment, and the country is seeking 72 percent of overall investment through the private sector. The World Bank Group\u2019s 2023-2027 Country Partnership Framework (CPF) for C\u00f4te d\u2019Ivoire prioritizes value chains in agribusiness and agroindustry, which will have the greatest impact on poverty reduction. It aims to reduce disparities in human development, infrastructure access, and economic opportunities. In doing so, the CPF will contribute to strengthening the social contract between the state and citizens and to preventing fragility and insecurity. Part of C\u00f4te d\u2019Ivoire\u2019s 2030 vision is to process domestically at least 50 percent of its raw export commodities, and C\u00f4te d\u2019Ivoire\u2019s strategic vision is to attract more FDI to enable this work. The latest report of the United Nations Conference on Trade and Development (UNCTAD) revealed that FDI doubled in C\u00f4te d\u2019Ivoire, increasing from $578 million to $1,300 million in 2021.<\/p>\n

Foreign companies are free to invest and list on the Regional Stock Exchange (BVRM \u2013\u00a0Bourse R<\/i>\u00e9<\/i>gionale des Valeurs Mobili<\/i>\u00e8<\/i>res<\/i>), which is based in Abidjan and covers the eight countries of the West African Economic and Monetary Union (WAEMU). WAEMU members are part of the Regional Council for Savings and Investment (CREPMF \u2013\u00a0<\/i>C<\/i>onseil R<\/i>\u00e9<\/i>gional de l\u2019<\/i>\u00c9<\/i>pargne\u00a0<\/i>Publique et des March\u00e9s<\/i>\u00a0Financiers<\/i>), a West African securities regulatory body. BRVM has only 46 companies, 34 of which are Ivoirian. Looking ahead, the market is slowly going digital, with online trading platforms. Licensed stock broking companies already execute most investors\u2019 trades through an automated trading system.<\/p>\n

On March 15,2022, the BVRM and the International Finance Corporation adopted a new governance code. The code enhances investor access to reliable and comprehensible information, ensures tight collaboration between the companies\u2019 administrative board and management, and tightens requirements for firms\u2019 audits. Companies, however, are reluctant to list, and investors do not yet see the market as an alternative way to make a profit. There is a need to expand and deepen markets to support international trade, including forward and futures markets. New financial instruments emerged on the markets, such as green bonds, diaspora bonds, and sukuk (or sharia-compliant bonds), enabling local currency borrowing.<\/p>\n

In most sectors, there are no laws that limit foreign investment. There are restrictions, however, on foreign investment in the health sector, law and accounting firms, and travel agencies (see below section).<\/p>\n

The government\u2019s investment promotion agency, the Center for the Promotion of Investment in C\u00f4te d\u2019Ivoire (CEPICI), promotes and attracts national and foreign investment. Its services are available to all investors and are provided through a one-stop shop intended to facilitate business creation, operation, and expansion. CEPICI ensures that investors receive incentives outlined in the investment code and facilitates access to industrial land. More information is available at\u00a0http:\/\/www.cepici.gouv.ci\/<\/span>\u00a0<\/span><\/a>. In 2019, the government added a Ministry of Investment Promotion and Private Sector Development Office, charged with investment promotion activities and development of industrial zones, including economic and free zones. The Ministry oversees the CEPICI and the Ivoirian Enterprise Institute (INIE \u2013\u00a0Institut Ivoirien de\u00a0<\/i>enterprise<\/i>), charged with programs targeting Small and Medium Enterprise (SME) development. This overlaps with the mandate of the Ministry for the Promotion of Small and Medium Enterprise (Minist<\/i>\u00e8<\/i>re de la Promotion des PM<\/i>E<\/i>, de l\u2019artisanat et de la Transformation du Secteur inform<\/i>e<\/i>l<\/i>).<\/p>\n

C\u00f4te d\u2019Ivoire maintains an ongoing dialogue with investors through various business networks and platforms, such as the CEPICI, the Ivoirian Chamber of Commerce (CCI-CI), the association of large enterprises (CGECI), and the bankers\u2019 association. CGECI regularly proposes reforms for the government to adopt on private sector financing and investment. CGECI also hosts workshops and conferences to discuss issues ranging from tax to access to debt issues.<\/p>\n

In 2023, the government adopted a bill promoting digital startups. The bill offers an incentive system consisting of lower tax and customs duties as well as other administrative measures. The IMF and C\u00f4te d\u2019Ivoire reached an agreement on an economic reform program in April focusing on revenue mobilization. Government intensified tax collection for companies operating in the mobile money and agriculture industries.<\/p>\n<\/section>\n

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Limits on Foreign Control and Right to Private Ownership and Establishment<\/h3>\n

Foreign investors have access to all forms of remunerative activity on terms equal to those enjoyed by Ivoirians. The government encourages FDI, including investor participation in state-owned firms that the government is privatizing. Although in most privatizations, the state reserves an equity stake in the new company.<\/p>\n

There are no general, economy-wide limits on foreign ownership or control, and few sector-specific restrictions. There are no laws specifically directing private firms to adopt articles of incorporation or association that limit or prohibit foreign investment, participation, or control in those firms, and no such practices have been reported. Non-citizens and foreign entities can buy stocks listed on the regional stock exchange located in Abidjan.<\/p>\n

Banks and insurance companies are subject to licensing requirements, but there are no restrictions designed to limit foreign ownership or to limit establishment of subsidiaries of foreign companies in this sector. Investments in health, law and accounting, and travel agencies are subject to prior approval and require appropriate licenses and association with an Ivoirian partner. The government has, on a case-by-case basis, mandated using local providers, hiring local employees, or arranging for eventual transfer to local control. The government has implemented local content requirement for companies in the oil and gas sectors. Local content includes an obligation to employ local employees and to work with local SMEs.<\/p>\n

The government does not have an official policy to screen investments; its overall economic and industrial strategy does not discriminate against foreign-owned firms. There are indications of some instances of preferential treatment for firms from countries with longstanding commercial ties to C\u00f4te d\u2019Ivoire. In some sectors, such as cocoa and cashew processing, the government gives preferential treatment to Ivoirian companies. For instance, 20 percent of the national cocoa production is exclusively granted to Ivoirian cocoa exporting companies.<\/p>\n

The government enforce that companies dealing with industrial activities operate in specific industrial zones.<\/p>\n<\/section>\n

\n

Other Investment Policy Reviews<\/h3>\n

C\u00f4te d\u2019Ivoire has not conducted an investment policy review (IPR) through the OECD. The WTO last conducted a Trade Policy Review in October 2017, which can be found at\u00a0https:\/\/www.wto.org\/english\/tratop_e\/tpr_e\/tp462_e.htm<\/span>\u00a0<\/span><\/a>.<\/p>\n

UNCTAD published an Investment Policy Review for C\u00f4te d\u2019Ivoire in February 2020, which can be found at\u00a0https:\/\/unctad.org\/webflyer\/investment-policy-review-cote-divoire.<\/span>\u00a0<\/span><\/a><\/p>\n

The government provides information about sector policies and business opportunities in publicly available reports. More information can be found at:\u00a0https:\/\/www.cepici.gouv.ci\/<\/span>\u00a0<\/span><\/a>. The National Development Plan 2021-2025 outlines the key sectors and priorities of the government regarding investment: https:\/\/www.gcpnd.gouv.ci\/documentation\/index\/fr.<\/p>\n

The government has revised the national strategy for the development of rice (SNDR 2), a decade-long strategy covering 2020-2030, with a goal to fill the production insufficiency gap by 2025 and attract more investors in the sector:\u00a0https:\/\/www.fao.org\/faolex\/results\/details\/fr\/c\/LEX-FAOC147227\/<\/span>\u00a0<\/span><\/a>. In 2022, the consumption of rice increased from 1.3 million to 2.6 million per year.<\/p>\n

C\u00f4te d\u2019Ivoire boosted its investment attractiveness by fostering large industrial parks. In December 2022, the government inaugurated 361 hectares of industrial lands in the suburbs of the economic capital Abidjan, called Akoup\u00e9- Zeudji.<\/p>\n<\/section>\n

\n

Business Facilitation<\/h3>\n

The CEPICI manages C\u00f4te d\u2019Ivoire\u2019s online information portal containing all documents dedicated to business creation and registration (https:\/\/cotedivoire.eregulations.org\/<\/span>\u00a0<\/span><\/a>). All the necessary documentation for registration is available online, however actual registration must be done in person. Further information on business registration is also available on CEPICI\u2019s website (http:\/\/www.cepici.gouv.ci\/<\/span>\u00a0<\/span><\/a>).<\/p>\n

Businesses can register at the CEPICI\u2019s One-Stop Shop (Guichet Unique<\/i>) in Abidjan. The One-Stop Shop allows businesses to register with the commercial registrar (Registre du Commerce et du Cre\u0301dit I<\/i>m<\/i>mobilier<\/i>), the tax authority (Direction Ge\u0301ne\u0301rale d\u2019Imp<\/i>\u00f4<\/i>ts<\/i>), and the social security institute (Caisse Nationale de Pre\u0301voyance Sociale<\/i>). The One-Stop Shop also publishes the legal notice of incorporation on CEPICI\u2019s website. All necessary documents for registration are also available on the website. Registration takes between one and three days, while preparation of necessary documents can take more time. The business licensing process, controlled by sector-specific governing bodies, is separate from the registration process.<\/p>\n

Women have equal access to the registration process. There have not been any reports of gender-based discrimination.<\/p>\n

International financial institutions recommend government authorities better and more transparently address concerns from the private sector in the following general areas:<\/p>\n

1) enhancing the regulatory framework, reducing bureaucratic red tape, and improving the provision of public sector services, for example by simplifying and harmonizing the process for issuing business licenses and approvals.<\/p>\n

2) promoting digitalization, both in the provision of public services and in public finance management.<\/p>\n

3) reducing labor market rigidities by broadening professional training programs.<\/p>\n

4) safeguarding property rights, particularly with respect to ownership and transfer of land.<\/p>\n

5) deepening financial inclusion and facilitating access to financial markets, also via mobile systems and digital platforms; and<\/p>\n

6) reducing uncertainty in the timing of government payments.<\/p>\n

Government authorities are stepping up efforts to strengthen macroeconomic statistics. The National Strategy for the development of statistics aims to broaden the competencies of the National Institute of Statistics, reinforce its independence, and create a national fund for the development of statistics.<\/p>\n

The Abidjan-Lagos Corridor will facilitate transportation along this Corridor which carries over 75% of the trade volume in West Africa so as to sustain the free flow of persons, trade and improve the respective economies of the Corridor states. The project is currently ongoing with the projected headquarters office to open in Abidjan soon.<\/p>\n<\/section>\n

\n

Outward Investment<\/h3>\n

C\u00f4te d\u2019Ivoire does not promote or incentivize outward investment.<\/b>\u00a0However, the government does not restrict domestic investors from investing abroad.<\/p>\n<\/section>\n<\/div>\n<\/section>\n

\n

2. Bilateral Investment and Taxation Treaties<\/h3>\n
\n
\n

There is no Bilateral Investment Treaty (BIT) between C\u00f4te d\u2019Ivoire and the United States. C\u00f4te d\u2019Ivoire has signed bilateral investment treaties with the following countries and multilateral organizations: Belgium, Canada, China, the European Union (EU), Germany, Ghana, Italy, Luxembourg, Mauritius, the Netherlands, Singapore, Sweden, Switzerland, Tunisia, Turkey, and the United Kingdom. The Ivoirian government ratified the Economic Partnership Agreement (EPA) with the EU in September 2016, allowing it to access the European market with no tax. The EPA went into effect in December 2019. C\u00f4te d\u2019Ivoire also joined the African Continental Free Trade Area Agreement (AfCFTA), allowing the country to trade within the continent with no tax on certain products. The trade activities started in January 2021.<\/p>\n

C\u00f4te d\u2019Ivoire does not have a bilateral taxation treaty with the United States, though it has tax treaties with Belgium, Canada, France, Germany, Italy, Norway, and Switzerland. For leasing, the depreciation period of the item for accounting purposes is aligned with the period of the contract and not the lifespan of the item. The government has made a special tax incentive available to foreign investors to be able to import equipment needed for a project.<\/p>\n

Ivoirian businesses and foreign investors have expressed some concerns about the level of taxation. Starting in 2021, some U.S. and European companies complained that Ivoirian tax authorities used aggressive methods and exorbitant assessments of taxes due. The government\u2019s collection of revenues as a percentage of GDP is significantly below that of other countries at comparable levels of development, and the government recognizes the need to boost domestic resource mobilization. It has focused this effort in the near term on large, successful companies, eliciting a negative reaction. For the medium-term, the government recognizes the need to broaden the tax base and strengthen tax administration while continuing to create more space for the private sector.<\/p>\n<\/div>\n<\/div>\n<\/section>\n

\n

3. Legal Regime<\/h3>\n
\n
\u00a0<\/div>\n
\n

Transparency of the Regulatory System<\/h3>\n

The government aims for transparency in law and policy to foster competition and provide clear rules of the game and a level playing field for domestic and foreign investors. However, at the operational level, lack of regulatory transparency is a concern. Publication of draft legislation and regulations is not required. Foreign and Ivoirian companies complain that new regulations are issued with little warning and without a period for public comment. For instance, new duties and taxes on products are generally reported in the fiscal annexes towards the end of the year and take immediate effect at the beginning of the next year. The Ministry of Commerce supports introducing a period for public comment on new regulations and changes in regulation before they are implemented. The government does often hold ad hoc public seminars and workshops to discuss proposed plans with trade and industry associations. Further work in this area would boost investor confidence.<\/p>\n

Regulatory actions, once adopted, are published on the government website. They are also published in the Official Journal of the Republic of C\u00f4te d\u2019Ivoire\u00a0(<\/i>Journal Officiel de la R<\/i>\u00e9<\/i>publique de C\u00f4te d\u2019Ivoire)\u00a0<\/i>, which is available for purchase at newsstands and by subscription on the Journal\u2019s website\u00a0http:\/\/www.sgg.gouv.ci\/jo.php<\/span>\u00a0<\/span><\/a>\u00a0and at\u00a0https:\/\/abidjan.net\/<\/span>\u00a0<\/span><\/a>.<\/p>\n

The National Regulatory Authority for Public Procurement\u00a0(ANRMP \u2013\u00a0<\/i>Autorit\u00e9 Nationale de R\u00e9gulation des March\u00e9s Publics)<\/i>\u00a0polices transparency in public procurement and private sector compliance with public procurement rules. Consumers, trade associations, private companies, and individuals have the right to file complaints with ANRMP to hold the government to its own administrative processes. In February, the ANRMP published on its official website the management review of all 2020 public procurements.<\/p>\n

Regulatory bodies regularly publish and promote access to their data for the business community and development partners, allowing for scientific and data-driven reviews and assessments. Quantitative analysis and public comments are made available.<\/p>\n

Regulatory authority and decision-making exist only at the national level. Sub-national jurisdictions do not regulate business. For most industries or sectors, regulations are developed through the ministry responsible for that sector. In the telecommunications, electricity, cocoa, coffee, cotton, and cashew sectors, the government has established control boards or independent agencies to regulate the sector and pricing. Companies have complained that rules for buying prices determined by the agriculture commodity regulatory agencies tend to be opaque and local prices are set arbitrarily without reference to world prices.<\/p>\n

C\u00f4te d\u2019Ivoire\u2019s agency regulating cocoa and coffee (CCC \u2013\u00a0Conseil\u00a0<\/i>du\u00a0<\/i>Caf<\/i>\u00e9 et Cacao<\/i>) has identified the need for a single mechanism to control traceability to prevent child labor and deforestation. This year CCC started the distribution of cards to cocoa farmers for digital traceability, land usage, and digital payment. The private sector and non-governmental stakeholders agree on the need for increased accountability and traceability, but generally prefer a multi-prong approach that incorporates the non-governmental work already being done in this area. Growing international awareness of child labor and environmental challenges in C\u00f4te d\u2019Ivoire, and the possibility that this could impact exports, are catalysts for action. In January 2023, the EU launched its deforestation bill, threatening to ban five commodities: coffee, cocoa, palm oil, hardwoods, soy, and all their derivatives products, if the production result from deforestation, forced and child labor. The bill will take effect in June 2023. Companies will be required to provide notification of \u201creasonable diligence\u201d showing the origin of production, and that the product was not produced by child or forced labor.<\/p>\n

The government publishes tender notices in the local press and sometimes in international magazines and newspapers. On occasion, there is a charge for bidding documents. C\u00f4te d\u2019Ivoire as a generally decentralized government procurement system, with most ministries undertaking their own procurements. The National Bureau of Technical and Development Studies, the government\u2019s technical and investment planning agency and think tank, occasionally serves as an executing agency in major projects to be financed by international institutions.<\/p>\n

The Public Procurement Department\u00a0<\/i>is a centralized office of public tenders in the Ministry of Finance tasked with ensuring compliance with international bidding practices. C\u00f4te d\u2019Ivoire\u2019s update to its public procurement code in 2019 introduced electronic procurement bidding, provisions for sustainable public procurement, and promotion of socially responsible vendors. While the public procurement process is open by law, in practice it is often opaque, and government contracts are occasionally awarded outside of public tenders. During negotiations on a tender, the Ivoirian government at times imposes local content requirements on foreign companies. There are specific regulations governing the government\u2019s use of sole source procurements, and the government has awarded sole source bids without tenders, citing the high technical capacity of a firm or a declared emergency. Many firms continue to cite corruption as an obstacle to transparent procurement decisions.<\/p>\n

The National Authority for Regulation of Public Procurement (ANRMP) regulates public procurement with a view to improving governance and transparency. It has the authority to audit and sanction private-sector entities that do not comply with public-procurement regulations, and to provide recommendations to ministries to address irregularities.<\/p>\n

C\u00f4te d\u2019Ivoire\u2019s accounting, legal, and regulatory procedures are consistent with international norms, though both foreign and Ivoirian businesses often complain about the government\u2019s poor communication. C\u00f4te d\u2019Ivoire is a member of the Organization for the Harmonization of African Business Law (OHADA), which is common to 16 countries and adheres to the WAEMU accounting system. In accounting, companies use the WAEMU system, which complies with international norms and is a source of economic and financial data.<\/p>\n

Banking regulation follows the Central Bank (BCEAO) monetary policy covering the eight countries of WAEMU: C\u00f4te d\u2019Ivoire, Benin, Togo, Guinea, Mali, Burkina-Faso, Senegal, and Guinea Bissau. Ivoirian authorities have limited power to conduct monetary policy. The Central Bank regulates interest rates to control the money supply. IMF assessments confirm C\u00f4te d\u2019Ivoire\u2019s creditworthiness; and welcomes the very constructive engagement with the authorities and strongly supports their deep commitment to fiscal and debt sustainability and to building a more prosperous and inclusive society amid rapid demographic change and significant external challenges. The Ivoirian government promotes transparency of public finances and debt obligations (including explicit and contingent liabilities) with the publication of this information through the following websites:
http:\/\/budget.gouv.ci<\/span>\u00a0<\/span><\/a>
https:\/\/www.tresor.gouv.ci\/tres\/fr_FR\/rapport-de-la-dette-publique\/<\/span>\u00a0<\/span><\/a><\/p>\n<\/section>\n

\n

International Regulatory Considerations<\/h3>\n

The government incorporates WAEMU directives into its public procurement bidding policy, processes, and auditing. This includes separating auditing and regulatory functions and increasing advance payment for the initial procurement of goods and services from 25 to 30 percent.<\/p>\n

C\u00f4te d\u2019Ivoire is part of the Intergovernmental Action Group against Money Laundering in West Africa (GIABA), whose mandate is to protect economies, reinforce cooperation among member states, harmonize measures, and evaluate current strategies against money laundering and terrorism financing. The government is close to adopt a national strategy to combat money laundering and terrorism financing. Once adopted, this strategy will put in place regulations and institutions that protect the Ivoirian financial system against money laundering and the financing of terrorism. CDI\u2019s National Financial Information Processing Unit (CENTIF \u2013\u00a0Cellule nationale de Traitement des Informations financi\u00e8res<\/i>)\u00a0<\/b>analyzes, processes, exploits, and circulates information from atypical financial transactions transmitted by professions subject to the law, in the form of \u201csuspicious transaction reports.\u201d These professions include real estate, representing 0.93 percent on a scale from 0 to 1.<\/p>\n

Ivoirian laws, codes, professional-association standards, and regional-body membership obligations are incorporated in the country\u2019s regulatory system. The private sector often follows European norms to take advantage of the Ivoirian trade agreement with the EU \u2013 CDI\u2019s largest market.<\/p>\n

CDI has been a WTO member since 1995 but has not notified all the draft technical regulations to the WTO Committee on Technical Barriers to Trade. The government signed the Trade Facilitation Agreement (TFA) in December 2013 and ratified it in December 2015. The National TFA Committee (NTFC) coordinates TFA implementation. Consistent with the Economic Community of West African States (ECOWAS), CDI applies a Common External Tariff (CET) on goods importations.<\/p>\n

<\/u>Starting in 2023, it is now mandatory for all calling vessels to dispose of onboard waste oils and sludge prior to departure, and to\u00a0<\/u>provide the port authority with a copy of the valid International Air Pollution Prevention Certificate (IAPP Certificate)<\/span>\u00a0<\/span><\/a>.<\/p>\n<\/section>\n

\n

Legal System and Judicial Independence<\/h3>\n

The Ivoirian legal system is based on the French civil-law model. The law guarantees to all the right to own and transfer private property. Rural land, however, is governed by a separate set of laws, which makes ownership and transfer very difficult. The court system enforces contracts.<\/p>\n

The Commercial Court of Abidjan adjudicates corporate law cases and contract disputes. Mediation is also available through the Ivoirian legal framework in addition to the Commercial Court and the Arbitration Tribunal. The Commercial Court of Abidjan retains jurisdiction for the entire country.<\/p>\n

The Ivoirian judicial system is ostensibly independent, but magistrates are sometimes subject to political or financial influence. Judges sometimes fail to prove that their decisions are based on the legal or contractual merits of a case and often rule against foreign investors in favor of entrenched interests. A frequent complaint from investors is the slow dispute-resolution process. Cases are often postponed or appealed without a reasonable explanation, moving from court to court for years or even decades. Regulations or enforcement actions are appealable and adjudicated through the national court system.<\/p>\n<\/section>\n

\n

Laws and Regulations on Foreign Direct Investment<\/h3>\n

The 2018 Investment Code is the primary governing authority for investment conduct. The Code does not restrict foreign investment or the repatriation of funds. The Code offers a mixture of fiscal incentives, combining tax exoneration, patents and licenses contribution, and tax credits to encourage investment. The government also offers incentives to promote small businesses and entrepreneurs, low-cost housing construction, factories, and infrastructure development, which the government considers key to the country\u2019s economic development. Concessionary agreements that exempt investors from tax payments require the additional approval of the Ministry of Finance and Economy and the Ministry of Commerce and Industry. The clearance procedure for planned investments, if the investor seeks tax breaks, is time consuming and confusing. Even when companies have complied fully with the requirements, the Tax Office sometimes denies tax exemptions with little explanation, giving rise to accusations of favoritism. Taxation techniques remain sometimes opaque, creating tax disputes between companies and the General Directorate of Taxes.<\/p>\n

Some sectors have additional laws that govern investment activity in those sectors. In mining, for example, the Mining Code allows for a ten-year holding period for permits with an option to extend the permit for an additional two years on 400 square kilometers. The government imposes local-content requirements in the oil and gas sector, such as the requirement that companies hire locals, finance personnel training, and support local SMEs. The government in partnership with the French Institute of Petroleum, created the National School of Petroleum and Energy to train professionals in the sector.<\/p>\n

The government is actively seeking to increase the share of local processing of raw agricultural commodities for export from 10 percent to 50 percent by 2025 and is looking for private investments to help reach this goal.<\/p>\n

C\u00f4te d\u2019Ivoire is a net energy exporter and is making investments to retake that position as the sub-region\u2019s energy hub. C\u00f4te d\u2019Ivoire entered contracts with neighboring countries (Ghana, Mali, Burkina-Faso, and Guinea) to supply electricity through its relatively well-established transmission network. According to 2021 data, the country production of oil reduced moving from 38,000 to 24036 barrels-per-day (bpd) of oil from four blocks and 213 million cubic-feet-per-day of gas. The country has divided its offshore Exclusive Economic Zone into 51 hydrocarbons blocks, of which 18 blocks remain available for bid. Currently, the production of gas is entirely used for electricity production. The government seeks to attract more foreign companies to invest in the oil and gas sector. In 2021, the large Italian oil company ENI discovered oil and gas at an offshore well site called \u201cBaleine.\u201d It is expected to enter production in the second quarter of 2023, with daily output of 12,000 barrels of oil and 17.5 million cubic feet of gas. The government purchases all the local gas production for its electricity production, via guaranteed \u201ctake or pay contracts.\u201d<\/p>\n

The CEPICI provides a one-stop shop website to assist investors. More information on C\u00f4te d\u2019Ivoire\u2019s laws, rules, procedures, and reporting requirements can be found at:
www.apex-ci.org\/<\/span>\u00a0<\/span><\/a>
www.cepici.gouv.ci\/<\/span>\u00a0<\/span><\/a><\/p>\n<\/section>\n

\n

Competition and Antitrust Laws<\/h3>\n

The Ministry of Commerce, Industry and Small Business Promotion, through the Commission on Anti-Competition Practices, is responsible for reviewing competition\u2013related concerns under the 1991 competition law, which was last updated in 2013. ANRMP is responsible for reviewing the awarding of contracts.<\/p>\n

No significant competition cases were reported over the past year.<\/p>\n<\/section>\n

\n

Expropriation and Compensation<\/h3>\n

The Ivoirian constitution guarantees the right to own property and freedom from expropriation without compensation. The government may expropriate property with due compensation (fair market value) at the time of expropriation in the case of \u201cpublic interest.\u201d Perceived corruption and weak judicial and security capacity, however, have resulted in poor enforcement of private property rights, particularly when the entity in question is foreign and the plaintiff is Ivoirian or a long-established foreign resident.<\/p>\n<\/section>\n

\n

Dispute Settlement<\/h3>\n

ICSID Convention and New York Convention<\/h4>\n

C\u00f4te d\u2019Ivoire is a signatory to the International Center for Settlement of Investment Disputes (ICSID) and a signatory to the New York Convention of 1958 on the Recognition and Enforcement of Foreign Arbitral Awards.<\/p>\n

In cases where a firm does not meet the nationality conditions stipulated by Article 25 of the Convention, the dispute must be resolved within the provisions of the supplementary mechanisms approved by the ICSID.<\/p>\n

In September 2021, C\u00f4te d\u2019Ivoire and China signed an agreement to settle commercial disputes between Ivoirian companies and Chinese companies.<\/p>\n

Investor-State Dispute Settlement<\/h4>\n

C\u00f4te d\u2019Ivoire is a signatory to investment agreements prescribing binding international arbitration of investment disputes. C\u00f4te d\u2019Ivoire recognizes and has been known to enforce foreign arbitral awards, but enforcement is inconsistent.<\/p>\n

In the past 10 years, foreign investors have had investment disputes, which have often been resolved through arbitration or amicable settlement. Recently some U.S. firms encountered tax disputes with the government. As C\u00f4te d\u2019Ivoire is a signatory to the New York Convention of 1958 on the Recognition and Enforcement of Foreign Arbitral Awards, local courts are obliged to enforce foreign arbitral awards. However, one U.S. company has complained about unfair practices and competition by the telecommunication regulating agency pertaining to access to airtime and network access.<\/p>\n

The U.S. government is not aware of any history of extrajudicial action against foreign investors, including U.S. firms.<\/p>\n

International Commercial Arbitration and Foreign Courts<\/h4>\n

The Abidjan-based regional Court of Justice and Arbitration (CCJA) provides a means of solving contractual disputes. The arbitration tribunal can enforce awards quickly, but most business contracts are written to specify that disputes will be settled in Ivoirian courts, thus the Ivoirian court system is the first resort.<\/p>\n

C\u00f4te d\u2019Ivoire is a member of the Organization for the Harmonization of Business Law in Africa (OHADA \u2013\u00a0<\/i>Organisation pour l\u2019harmonisation en Afrique du droit des Affaires<\/i>) whose provisions, adopted in 1999, have replaced domestic law on arbitration. The unified law is based on the model law of the United Nations Commission on International Trade Law (UNCITRAL).<\/p>\n

Judgments of foreign courts are recognized but difficult to enforce in local courts. To avoid being forced to work through the Ivoirian legal system, some investors stipulate in contracts that disputes must be settled through international commercial arbitration. Even if stipulated in the contract, decisions reached through OHADA are sometimes not honored by local courts.<\/p>\n

The U.S. government is not aware of cases in which C\u00f4te d\u2019Ivoire\u2019s domestic courts have shown preferential treatment for state-owned enterprises involved in investment disputes.<\/p>\n

The International Chamber of Commerce (ICC) created the African Commission to build capacity in the region and strengthen the arbitration infrastructure throughout the continent while engaging with a range of stakeholders to promote ICC Arbitration, as well as ICC\u2019s alternative disputes resolution services.<\/p>\n<\/section>\n

\n

Bankruptcy Regulations<\/h3>\n

C\u00f4te d\u2019Ivoire ranked 85 out of 190 countries for ease of resolving insolvency, according to the World Bank\u2019s 2020 Doing Business Report (the last available). As a member of OHADA, C\u00f4te d\u2019Ivoire has both commercial and bankruptcy laws that address the liquidation of business liabilities. OHADA is a regional system of uniform laws on bankruptcy, debt collection, and rules governing business transactions. OHADA permits three different types of bankruptcy liquidation: an ordered suspension of payment to permit a negotiated settlement; an ordered suspension of payment to permit restructuring of the company, like Chapter 11; and the complete liquidation of assets, similar to Chapter 7. Creditors\u2019 rights, irrespective of nationality, are protected equally by the Act. Bankruptcy is not criminalized. Court-ordered monetary settlements resulting from declarations of bankruptcy are usually paid out in local currency.<\/p>\n

The joint venture Credit Info \u2013 Volo West Africa manages regional credit bureaus in WAEMU.<\/p>\n<\/section>\n<\/div>\n<\/section>\n

\n

4. Industrial Policies<\/h3>\n
\n
\u00a0<\/div>\n
\n

Investment Incentives<\/h3>\n

The 2018 Investment Code offers a mixture of fiscal incentives, combining tax exoneration and tax credits focusing on agriculture, agri-business, tourism, health, and education. These may include a full exoneration of customs duties or suspended VAT, and tax exemptions to business operations in some remote areas, with incentives based on the type of investment, phase of operation, local content, and participation. There are also incentives to promote small businesses and entrepreneurship, low-cost housing construction, factories, and infrastructure development, which the government considers key to the country\u2019s broad-scale economic development. The Investment Code, the Petroleum Code and the Mining Code delineate incentives available to new investors in CDI.<\/p>\n

Following the peak of the COVID 19-pandemic, the government subsidized the construction sector by easing access to bank loans, reducing taxes on cement, capping cement prices, reducing the time needed to register land, and encouraging foreign investors to develop social housing projects by providing loan guarantees. In 2022, several foreign companies, mostly from Morocco and Turkey, announced massive social housing projects.<\/p>\n

In 2022, the government capped the price of diesel gasoline, while the price of unleaded gasoline rose by 27 percent. Though not a common practice, the government occasionally guarantees loans or jointly finances foreign direct investment projects.<\/p>\n<\/section>\n

\n

Foreign Trade Zones\/Free Ports\/Trade Facilitation<\/h3>\n

Created in 2008, the Ivoirian free trade zone (FTZ) for information technology and biotechnology (VITIB) is in the town of Grand Bassam in the greater Abidjan area. In 2014, VITIB established the Mahatma Gandhi Technology Park at Grand Bassam. Bonded warehouses exist, and bonded zones within factories are allowed. High port costs and maritime freight rates have inhibited the development of in-bond manufacturing or processing, and there are consequently no general foreign trade zones.<\/p>\n

A FTZ exists at the Port of Abidjan specifically for fish processing. In force since December 2005, this FTZ is reserved for companies that earn at least 90 percent of their turnover from exports. Eligible companies are exempt from all duties and taxes, including on imported and exported goods and services. They also enjoy preferential rates for water, electricity, telephone, and fuel supplied by public or semi-public establishments. A fee applies to FTZ companies, the amount of which is fixed by decree.<\/p>\n

C\u00f4te d\u2019Ivoire\u2019s ports (the Autonomous Port of Abidjan and the Autonomous Port of San-Pedro) follow the ISPS (International Ship and Port Facility Security) Code. In 2022 the U.S. Coast Guard removed Ivoirian Ports (Port of Abidjan, and Port of San-Pedro) from the Port Advisory list.<\/p>\n

Although ECOWAS established the external common tariff system and contributes to the African Continental Free Trade Area (ACFTDA), transfer of goods from one country to another within the region remains problematic, mainly due to unclear customs tariffs and long wait times at borders.<\/p>\n<\/section>\n

\n

Performance and Data Localization Requirements<\/h3>\n

The government strongly encourages investors and firms to hire Ivoirian employees via incentives outlined in the Investment Code, but this is not a requirement. In March 2021, the government implemented the law on local content in the oil and gas sector. This law gives preference to Ivoirian companies and Ivoirian employees. The country aims to build \u201cNational Champions\u201d in the oil and gas sector, while transferring knowledge and technical know-how to local employees. It also provides incentives and access to financial services and local insurance.
The 2018 Investment Code guarantees the freedom for companies to designate senior management and board members.<\/p>\n

Citizens of Economic Community of West African States (ECOWAS) countries can legally work in C\u00f4te d\u2019Ivoire without additional permissions and do not need a residency permit. For other nationalities, visas and permits for work and residency are required. The investment promotion agency CEPICI facilitates the visa and permit process. The process is not onerous and does not inhibit the ability of foreign investors and their employees to enter and exit the country.<\/p>\n

There are no government-imposed trade restrictions on investment, including tariff and non-tariff barriers. However, all imports are subject to the External Common Tariff for all ECOWAS countries.<\/p>\n

The government does occasionally place conditions on location, local content, equity ownership, import substitution, export requirements, host country employment, and technology. For example, the Ivoirian government required that one U.S. fast food franchise use locally sourced key ingredients, which it can do. The government also makes use of tax exemptions and customs exonerations to incentivize companies to do more value-added processing in C\u00f4te d\u2019Ivoire. There are no performance requirements for investments.<\/p>\n

Cellular telephone companies must meet technology performance requirements to maintain their licenses. The U.S. government does not know of any requirements that C\u00f4te d\u2019Ivoire imposes on foreign information technology firms to give the government source code or provide access to encryption. The U.S. government advocates for fair competition between companies.<\/p>\n

ART-CI is responsible for the oversight of local data storage.<\/p>\n<\/section>\n<\/div>\n<\/section>\n

\n

5. Protection of Property Rights<\/h3>\n
\n
\u00a0<\/div>\n
\n

Real Property<\/h3>\n

The Ivoirian civil code provides for the enforcement of private property rights, and the government has undertaken reform efforts to secure property rights. The cost of capital is high, and mortgages are costly, which inhibits investment. Secured interests in property are enforced by the Land Registry Office of the Ministry of Economy and Finance. In the World Bank\u2019s Doing Business 2020 report (the last year the report was available), C\u00f4te d\u2019Ivoire is ranked 112 out of 190 countries for ease of registering property.<\/p>\n

Land tenure is a complicated and sensitive issue. Land tenure disputes exist all over the country owing to multiple forms of traditional land rights based on collective tenure and the lack of formal private land ownership in most areas. Companies wishing to purchase land must have the property surveyed before obtaining title and obtaining construction authorization. Surveying is tightly controlled by a small group of companies and can often cost more than the value of the parcel of land. This has led to corruption in the authorization process.<\/p>\n

There were also reports of corruption in the building inspection process, resulting in shoddy construction and building collapses. In 2021, the government began streamlining and regularizing this process to accelerate construction authorizations and ensure quality construction. The Ministry of Construction has established a department to help individuals obtain land title and resolve disputes.<\/p>\n

Freehold land tenure in rural areas remains difficult to negotiate, however, and can inhibit foreign investment. Most businesses, including agribusinesses and forestry companies, circumvent the complicated land purchase process by acquiring long-term leases instead. There are regulations designed to control land speculation in urban areas, but they do not prevent foreigners from owning land.<\/p>\n

There are solely two documents conferring a land property to an individual or moral entity. They are called the ACD (Arret\u00e9 de Construction\u00a0<\/i>Definitif<\/i>) and the Land Title (Titre Foncier<\/i>), often provided for rural land ownership. The former is delivered by the Minister of Construction, and the latter by the Ministry of Agriculture and Rural Development.<\/p>\n

Foreign and\/or nonresident investors who wish to lease land must obtain a permit for the development of the site, as well as a prefectural or sub-prefectural order recognizing occupation of the site.<\/p>\n

The Audace Institute, an independent Ivoirian think tank, estimates that 96 percent of land in C\u00f4te d\u2019Ivoire does not have a clear title. The World Bank estimates that only 30 percent of property owners have clear title. There have been several attempts by the government to require rural landowners register their lands, the most recent set a deadline of end 2023 with a consequence that unregistered lands will be transferred to government ownership. However, land registration is onerous, and many owners are unable to afford the complex process. As with other aspects of Ivoirian law, follow-up and enforcement is uneven.<\/p>\n<\/section>\n

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Intellectual Property Rights<\/h3>\n

C\u00f4te d\u2019Ivoire is not listed in the United States Trade Representative (USTR) Special 301 Report or the Notorious Markets List.<\/p>\n

The Ivoirian Civil Code includes measures to protect intellectual property rights (IPR), but the government has limited capacity to enforce them. Inadequate enforcement of intellectual property rights remains a serious problem. The government\u2019s Office of Intellectual Property (OIPI \u2013\u00a0Office\u00a0<\/i>Ivoirien<\/i>\u00a0de la\u00a0<\/i>Propri\u00e9t\u00e9<\/i>\u00a0<\/i>Intellectuelle<\/i>) is charged with ensuring the protection of patents, trademarks, industrial designs, and commercial names. Patents are valid for 10 years, with the possibility of two extensions of five years each. Trademarks are valid for 10 years and are renewable indefinitely. Copyrights are valid for the life of the author plus an additional 70 years. The Ivoirian Copyright Office (BURIDA-\u00a0<\/i>Bureau\u00a0<\/i>Ivoirien<\/i>\u00a0d<\/i>u<\/i>\u00a0droit\u00a0<\/i>d \u2019auteur<\/i>) has a labeling system in place to prevent counterfeiting and to protect audio, video, literary, and artistic property rights in music and computer programs. A new office within BURIDA charged with IPR and combating counterfeiting was inaugurated in November 2021. This office gathers large and small enterprises around counterfeiting practices and best methods to fight them. While Ivoirian IPR law is in conformity with standards established by the World Trade Organization (WTO) Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS), the country lacks adequate customs inspections at its porous borders, limiting the law\u2019s impact.<\/p>\n

In 2022, C\u00f4te d\u2019Ivoire was one of the top three countries in the African Organization for Intellectual property (OAPI), based on the number of IPR submissions it processed.<\/p>\n

The government did not adopt any IPR-related laws or regulations in 2022. In 2020, the Ministry of Culture, Art, and Entertainment Business established committees that study and make recommendations for the reform and restructuring of BURIDA.<\/p>\n

The National Committee to Combat Counterfeiting (CNLC \u2013\u00a0<\/i>Comit\u00e9 national de la\u00a0<\/i>Lutte<\/i>\u00a0<\/i>Contre<\/i>\u00a0l<\/i>a<\/i>\u00a0contrefa\u00e7on<\/i>) coordinates national efforts against counterfeit and pirated goods. By law, the government must protect intellectual property on both exported and imported goods. Customs has the power to seize imported products that violate IPR laws even if installed with other equipment, including equipment detained, marketed, or illegally supplied. Such seizures, generally of counterfeit consumer goods (increasingly medicines), are routinely publicized on government websites and media outlets, although statistics on seizures are unavailable.\u00a0<\/i>IPR violations are prosecuted, and penalties vary from imprisonment of three months to 10 years and fines from 100,000 to 5,000,000 CFA ($166 to $8,333 based on an average exchange rate of 600 CFA to one dollar).<\/p>\n

For additional information about national laws and points of contact at local IP offices, please see WIPO\u2019s country profiles at\u00a0http:\/\/www.wipo.int\/directory\/en\/<\/span>\u00a0<\/span><\/a><\/p>\n<\/section>\n<\/div>\n<\/section>\n

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6. Financial Sector<\/h3>\n
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Capital Markets and Portfolio Investment<\/h3>\n

Government policies generally encourage foreign portfolio investment.<\/p>\n

The Regional Stock Exchange (BRVM) is in Abidjan and the BRVM lists companies from the eight countries of the WAEMU. The existing regulatory system effectively facilitates portfolio investment through the West African Central Bank (BCEAO). The Regional Council for Savings Investments (CREPMF) sets the rules and regulations regarding the market participants and market structure. There is sufficient liquidity in the markets to enter and exit sizeable positions. However, the market follows a limit-order mechanism. Besides traditional foreign trade risk management tools offered by commercial banks (i.e., export credits, trade bills), the stock exchange does not provide markets for forwards, futures, or options derivative instruments. Market volatility is low. The market benchmark BRVM Composite rose to 7.86 percent in 2022.
Government policies allow the free flow of financial resources into investing in financial assets.
The BCEAO respects IMF Article VIII on payment and transfers for current international transactions.<\/p>\n

Credit allocation is based on market terms and has increased to support the private sector and economic growth, specifically for large businesses. The Central Bank monitors inflation, money supply, and business cycles to ensure efficient monetary policy. The Central Bank rose policy and marginal interest rates by 25 percent, aiming to bring down the inflation rate, currently at 4.8 percent, to its advised rate between one to three percent. Foreign investors can acquire credit on the local market. This year, the government facilitated access to capital by lowering borrowing interest rates for real estate companies.<\/p>\n<\/section>\n

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Money and Banking System<\/h3>\n

As of January, there were 30 commercial banks and two credit institutions in C\u00f4te d\u2019Ivoire. Banks are expanding their national networks, especially in the secondary cities outside Abidjan, as domestic investment has increased up-country. The total number of bank branches has more than doubled from 324 in 2010 to 725 branches in 2019 (latest data available). According to the World Bank, in 2017 (latest data available) 41 percent of the population over the age of 15 have a bank account. Alternative financial services available include mobile money and microfinance for bill payments and transfers. Many Ivoirians prefer mobile money over traditional banking, but mobile money does not yet offer the same breadth of financial services as banks. A major U.S. telecommunication company opened its bank services, enabling consumers to make banking transactions. The number of virtual players with virtual account and digital wallets is also growing.<\/p>\n

Most Ivoirian banks are compliant with the BCEAO\u2019s minimum capital requirements. The government facilitated mortgages for foreign investors in housing in C\u00f4te d\u2019Ivoire.<\/p>\n

Foreign banks are allowed to operate in C\u00f4te d\u2019Ivoire; at least one has been in C\u00f4te d\u2019Ivoire for decades. They are subject to the WAEMU Banking Commission\u2019s prudential measures and regulations. There have been no reports of C\u00f4te d\u2019Ivoire losing any correspondent banking relationships in the past three years. No correspondent banking relationships are known to be in jeopardy. In 2023, a major U.S. investment banking company opened its regional headquarters in Abidjan.<\/p>\n

Capital transfers or repatriation funds can be cumbersome as they sometimes necessitate prior authorization from the government.<\/p>\n<\/section>\n

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Foreign Exchange and Remittances<\/h3>\n

Foreign Exchange<\/h4>\n

C\u00f4te d\u2019Ivoire is a member of WAEMU, which uses the West African CFA Franc (XOF). The French Treasury holds the foreign exchange reserves of WAEMU member states and supports the fixed exchange rate of 655 CFA to the Euro. Negotiations are still pending to create a new common regional currency to be called the Eco. Nigeria, which would represent 70 percent of the market, has expressed strong objections.<\/p>\n

There are no restrictions on the transfer or repatriation of capital and income earned, or on investments financed with convertible foreign currency. Once an investment is established and documented, the government regularly approves the remittances of dividends and\/or repatriation of capital. The same holds true for requests for other sorts of transactions (e.g., imports, licenses, and royalty fees).<\/p>\n

Funds associated with investments funded with convertible currency are freely convertible into any world currency.<\/p>\n

Remittance Policies<\/h4>\n

There are no recent changes or plans to change investment remittance policies. There are no time limitations on remittances. Total personal remittances received by Ivoirians were about $440 million in 2021 or 0.6 percent of GDP.<\/p>\n<\/section>\n

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Sovereign Wealth Funds<\/h3>\n

C\u00f4te d\u2019Ivoire does not have a sovereign wealth fund. In 2020, Rothschild Bank was reported in the press to have been awarded the contract to create one.<\/p>\n<\/section>\n<\/div>\n<\/section>\n

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7. State-Owned Enterprises<\/h3>\n
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Companies owned or controlled by the state are subject to national laws and the tax code. The Ivoirian government still holds substantial interests in many firms, including the refinery SIR (49 percent), the public transport firm (60 percent), the national television station RTI (98 percent), the national lottery (80 percent), the national airline Air C\u00f4te d\u2019Ivoire (58 percent), and the land management agency\u00a0Agency<\/i>\u00a0de Gestion Fonci<\/i>\u00e8<\/i>re<\/i>\u00a0AGEF (35 percent). Total assets of state-owned enterprises (SOEs) were $796 million and total net income of SOEs was $116 million in 2018 (latest figures). Of the 82 SOEs, 28 are wholly government-owned and 12 are majority government-owned, the government owns a blocking minority in seven and holds minority shares in 35. Each SOE has an independent board. The government has begun the process of divestiture for some SOEs (see next section). There are active SOEs in the banking, agri-business, mining, and telecom industries.<\/p>\n

The published list of SOEs is available at\u00a0https:\/\/dgpe.gouv.ci\/ind ex.php?p=portefeuille_etat<\/span>\u00a0<\/span><\/a>
SOEs competing in the domestic market do not receive non-market-based advantages from the government. They are subject to the same tax burdens and policies as private companies.
CDI does not adhere to OECD guidelines for SOE corporate governance (it is not a member of OECD).<\/p>\n

In 2021, audits of several SOEs highlighted serious irregularities (alleged embezzlement estimated at several tens or even hundreds of billions of FCFA, i.e., up to hundreds of millions of dollars). The SOEs include FER (Fonds d\u2019Entretien Routier \u2013 Road Maintenance Fund), FDFP (Fonds de D\u00e9veloppement de formation professionnelle \u2013 Vocational Training Development Fund), ART-CI (Autorit\u00e9 de R\u00e9gulation des Telecommunications de C\u00f4te D\u2019Ivoire \u2013 Telecommunications Regulatory Authority of C\u00f4te d\u2019Ivoire) , and ANSUT (Agence Nationale Du Service Universel De Telecommunications \u2013 National Universal Telecommunications Service Agency), whose leaders have been removed and replaced.<\/p>\n<\/div>\n

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Privatization Program<\/h3>\n

The government has been pursuing SOE privatization for decades, the most recent of which was in 2018. That year, the government sold 51 percent of the Housing Bank of C\u00f4te d\u2019Ivoire (BHCI \u2013\u00a0Banque\u00a0<\/i>d \u2019Habitat<\/i>\u00a0de C\u00f4te d\u2019Ivoire<\/i>). See previous Investment Climate Statements for past privatization efforts.<\/p>\n

Contracts for participation in SOE privatization are competed through a French-language public tendering process, for which foreign investors are encouraged to submit bids. The Privatization Committee, which reports to the Prime Minister, maintains a website. The 2019 (latest) report is available at:\u00a0http:\/\/privatisation.gouv.ci<\/span>\u00a0<\/span><\/a>.<\/p>\n<\/section>\n<\/div>\n<\/section>\n

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8. Responsible Business Conduct<\/h3>\n
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The private sector, the government, NGOs, and local communities are becoming progressively aware of the importance of Responsible Business Conduct (RBC) regarding environmental, social, and governance issues in C\u00f4te d\u2019Ivoire.<\/p>\n

Investors seeking to implement projects in energy, infrastructure, agriculture, forestry, waste management, and extractive industries are required by decree to provide an environmental impact study prior to approval. Under the new National Development Plan and sustainable finance regime, government has laid down specific criteria to review, select, fund, and monitor private investment with the goal of channeling funds into priority sectors. Foreign businesses, particularly in mining, energy, and agriculture, often provide social infrastructure, including schools and health care clinics, to communities close to their sites of operation. Companies are not required under Ivoirian law to disclose information relating to RBC, although many companies, especially in the cocoa sector, publicize their work. Cocoa companies publicize efforts to improve sustainability and combat the worst forms of child labor. As a part of public-procurement reform, the Ministry of Budget plans to include social needs in public-procurement contracts to support job creation, fair trade, decent working conditions, social inclusion, and compliance with social standards. On the environment, suggested reforms include selecting goods and services that have a smaller impact on the environment.<\/p>\n

There are reports of children subjected to forced labor in agricultural work, particularly on cocoa farms. In 2022, the government security forces made some arrests. The cases were prosecuted and often resulted in jail time for perpetrators.<\/p>\n

Conseil\u00a0<\/i>du\u00a0<\/i>Caf\u00e9\u00a0<\/i>et\u00a0<\/i>Cacao<\/i>\u00a0started the distribution of traceability cards to cocoa farmers to ensure fair payment, environment friendly crops, and cocoa free of child and forced labor. This new government traceability system will be the norm for all cocoa operators.<\/p>\n

The government, through the Ministry of Employment and Social Protection, sets workplace health and safety standards and is responsible for enforcing labor laws.<\/p>\n

The OHADA outlines corporate governance standards that protect shareholders. There are government-funded agencies in charge of monitoring business conduct. Human rights, environmental protection, and other NGOs report misconduct and violations of good governance practices.<\/p>\n

<\/u>C\u00f4te d\u2019Ivoire participates in the Extractive Industries Transparency Initiative (EITI) and discloses revenues and payments in the oil, gas, and mineral sectors. More information can be found at:\u00a0www.cnitie.ci\/<\/span>\u00a0<\/span><\/a><\/u>.<\/p>\n

C\u00f4te d\u2019Ivoire is not a signatory of the Montreux Document on Private Military and Security Companies. Some private security companies operating in the country are participants of the International Code of Conduct for Private Security Service Providers Association (ICoCA).<\/p>\n

In 2022, the government took active measures against State Owned Enterprises not paying their local contractors, generally SMEs. For example, after the FER general manager was removed, the acting manager made immediate payments to concerned SMEs.<\/p>\n<\/div>\n

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Additional Resources<\/h3>\n

Department of State<\/p>\n