OECD Investment Policy Reviews: Tunisia 2012

202 Pages·2012·2.587 MB·English

OECD investment Policy Reviews
Tunisia
Contents OECD investment Policy Reviews
Chapter 1. The economic situation and the role of foreign direct investment in Tunisia
Chapter 2. Tunisia’s investment regime and the National Treatment Instrument Tunisia
Chapter 3. Tunisia’s adherence to the OECD Guidelines for Multinational Enterprises
Chapter 4. Tunisia’s policy framework for investment
Chapter 5. Investment framework for green growth
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OECD Investment
Policy Reviews:
Tunisia
2012
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FOREWORD
Foreword
I
nMay2012,Tunisiabecamethe44thcountrytoadheretotheOECDDeclarationon
InternationalInvestmentandMultinationalEnterprises.Thisadherencebearswitness
to the determination thatTunisia holds towards strengthening the liberalisation of
investment, increasing its integration into the world economy and promoting
responsiblebusinessconduct
InadheringtotheDeclaration,Tunisiaundertakestograntnationaltreatmentto
foreign investors and to promote responsible business conduct. In return, the other
adheringcountriestotheDeclarationguaranteethatTunisianinvestorswillreceivea
fair treatment abroad and encourage their multinational enterprises operating in
Tunisiatocontributetoeconomic,socialandenvironmentalprogress.Accordingtothe
OECD Guidelines for Multinational Enterprises, which is an integral part of the
Declaration,TunisiawillsetupaNationalContactPointwiththetaskofpromotingthe
Guidelines and related practices, encouraging dialogue at the national level and
havingamediationrole.Asanadheringcountry,Tunisiawillparticipateinthework
oftheOECDInvestmentCommittee.
This publication is based on the report presented to the OECD Investment
Committee for the review of Tunisia’s application for adherence to the OECD
Declaration. This review took place in March 2012 at OECD headquarters in the
presence of the Tunisian delegation conducted by Mr. Riadh Bettaïeb, Minister for
Investment and International Co-operation. It should be noted that the analysis
presented in this report is based on the legal framework in place on the date of
publication, mentioning, as far as possible, the proposed reforms announced by the
newauthorities,notablytherevisionoftheInvestmentIncentivesCode.
ThestudywaspreparedbyMarie-EstelleReyandCristinaTébarLessfromthe
InvestmentDivisionandSaïdKechidafromtheGlobalRelationsSecretariat,underthe
supervision of Pierre Poret from the Directorate for Financial and EnterpriseAffairs
(DAF),inclosecollaborationwiththeInvestmentCommitteeandothermembersofthe
OECDSecretariat.
OECDINVESTMENTPOLICYREVIEWS:TUNISIA2012©OECD2012 3

TABLEOFCONTENTS
TTaabbllee ooff ccoonntteennttss
Acronymsandabbreviations...................................... 9
Introductionandexecutivesummary.............................. 13
Chapter1. Theeconomicsituationandtheroleofforeigndirect
investmentinTunisia........................................ 25
Macroeconomiccontext ...................................... 26
TheroleofFDIinTunisia’sdevelopment ........................ 32
Foreigninvestorparticipationinprivatisationprogrammes........ 41
Notes ...................................................... 44
Bibliography................................................. 46
Chapter2. Tunisia’sinvestmentregimeandtheNationalTreatment
Instrument ................................................. 47
MainfeaturesofTunisia’sinvestmentregime.................... 49
Principleofnon-discriminationvis-à-visforeigndirectinvestments... 50
Transferofcapital ........................................... 52
ExceptionstonationaltreatmentnotifiedbyTunisia.............. 52
MeasuresnotifiedbyTunisiafortransparency ................... 60
Reformsundertakentoliberaliseinvestmentrestrictions.......... 63
Internationalinvestmentincentivesanddisincentives............ 64
Conflictingrequirements ..................................... 64
FDIRegulatoryRestrictivenessIndexforTunisia.................. 64
Notes ...................................................... 68
Chapter3. Tunisia’sadherencetotheOECDGuidelines
forMultinationalEnterprises................................... 71
NationalContactPoint........................................ 74
Generalprinciplesforpromotingresponsiblebusinessconduct .... 75
Disclosure .................................................. 76
Humanrights ............................................... 78
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TABLEOFCONTENTS
Employmentandindustrialrelations........................... 81
Environment................................................ 83
Combatingcorruption,bribesolicitationandextortion............ 84
Consumerinterests .......................................... 89
Notes ...................................................... 90
Bibliography................................................. 93
Chapter4. Tunisia’spolicyframeworkforinvestment ................ 95
Investmentpolicy............................................ 97
Investmentpromotionandfacilitation.......................... 114
Tradepolicy................................................. 126
Competitionpolicy........................................... 130
Infrastructuredevelopment ................................... 133
Developmentofthefinancialsector............................ 136
Notes ...................................................... 144
Bibliography................................................. 150
Chapter5. Investmentframeworkforgreengrowth.................. 153
Tunisia’scommitmenttogreengrowth ......................... 154
Regulatoryframeworkandpoliciesforgreeninvestment.......... 156
Institutionalcapacitytodesignandimplementgreen
investmentpolicies .......................................... 163
Incentivesforgreeninvestment ............................... 164
Privatesectorparticipationingreeninfrastructure ............... 169
Notes ...................................................... 173
Bibliography................................................. 175
AnnexA. Tunisia’sexceptionstonationaltreatment ................. 177
AnnexB. Statisticaltables......................................... 184
AnnexC. BilateralinvestmentagreementsconcludedbyTunisia ...... 190
AnnexD. Double-taxationtreatiesconcludedbyTunisia.............. 192
AnnexE. TradeagreementsinforceinTunisia....................... 194
AnnexF. Tunisia’sparticipationininternationalorganisations
andratificationofinternationaltreaties........................ 195
Tables
1.1. HumandevelopmentindicatorsinTunisia(2009) ............. 29
1.2. Principaltakeoverandprivatisationoperations
inTunisia(2005-11)....................................... 42
4.1. Tunisia’sperformanceintermsofgettingcredit.............. 138
5.1. GreeninvestmentincentivesinTunisia...................... 167
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TABLEOFCONTENTS
B.1. InflowsofforeigndirectinvestmenttoTunisia ............... 184
B.2. CompositionofFDIinTunisia.............................. 185
B.3. FDIinflowsandoutflowsofcountriessubscribing
totheOECDDeclarationonInternationalInvestment
andmultinationalenterprisesandofTunisia................. 186
B.4. StockofinboundFDIofcountriessubscribing
totheOECDDeclarationonInternationalInvestment
andmultinationalenterprisesandofTunisia................. 188
Figures
1.1. InternationalinvestmentinflowsinTunisia.................. 34
1.2. FDIinflowsandprivatisationshare......................... 36
1.3. FDIinflowstoTunisiarelativetocountriesadhering
totheOECDDeclaration................................... 37
1.4. FDIratesofreturnincountriesadheringtotheOECD
DeclarationandinTunisia(2010) ........................... 38
1.5. ActivitiesofforeignaffiliatesinTunisia(2010)................ 39
1.6. InvestmentpositionofprincipalOECDpartnercountries
inTunisia ............................................... 40
2.1. TheOECDFDIRegulatoryRestrictivenessIndex .............. 66
2.2. RestrictionsbytypeofmeasuresinTunisiaaccording
totheOECDFDIIndex .................................... 67
2.3. FDIRegulatoryRestrictivenessIndexandFDIperformance..... 68
4.1. Tunisia’srankingforeaseofdoingbusiness.................. 98
4.2. Tunisia’sbusinessclimateinaregionalcontext .............. 98
4.3. Regionalcomparisonofsignedandratifiedbilateral
investmentpromotionandprotectiontreaties ............... 108
4.4. ForeigndirectinvestmentininfrastructureinTunisia ......... 135
4.5. Overallandfinancialsectorcompetitivenessrankings......... 137
4.6. Tunisia’sfinancialsectorinaregionalcontext
(rankingbyindicator,sameselectionof12countries
asinFigure4.5) .......................................... 137
4.7. NatureofcapitalholdingsinuniversalbanksinTunisia ....... 140
4.8. Enterpriseslistedfortrading,1992-2010(totalnumber)........ 141
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