Presented by: Mr. Emmanuel ESSIS, Chief Executive Officer (CEO) of CEPICI

AFRICAN INVESTMENT PROMOTION FORUM (AIPF) TOKYO - JAPAN

SUMMARY

BUSINESS ENVIRONMENT 1

2

3

INCENTIVE FRAMEWORK FOR INVESTMENT

INVESTMENT OPPORTUNITIES IN COTE D’IVOIRE

His Excellency, Alassane OUATTARA

President of the Republic of

Côte d’Ivoire

My ambition is making

Côte d’Ivoire,

an Emerging Country by 2020

INTRODUCTION

ECONOMIC OVERVIEW • Emerging country by 2020 is a National

ambition of the Government

• Double digit and sustainable economic

growth

Cost : $48.6 Billions

• National Development Plan : 2016 – 2020,

• Private sector investment (60%):

Cost: $ 29.4 billions

• Public sector investment (40%):

Cost: $ 19.6 billions

• Attractiveness of the Country

• Business Environment

improvement

• Incentives for investment

• Private sector as a pillar of this growth

• Economic Growth • 2012: 10,7% • 2013: 9,2% • 2014 : 8,5% • 2015 : forecast 9,4%

I. BUSINESS ENVIRONMENT A fast improving Business environment

14 ongoing reform projects related to dematerialization of business processes

40 reforms undertaken by the Government since 2013- Group of the World Bank, Doing Business

Program

4th World Top Reformer (Doing Business Report 2015 - Group of the World Bank)

2nd most competitive environment for doing business in the WAEMU and 6th in ECOWAS (Doing

Business 2015 - World Bank Group)

Among the top 10 reformers in the world on 2 consecutive years (2013 & 2014) and the only

country to maintain such a performance on these 2 consecutive years

A significant jump of 35 places in 3 years in the World Bank Doing Business ranking – from 177th to

142nd out of 189 countries (Doing Business 2015)

An increase of 11 places in the Global Competitiveness Index Report (WEF 2014)

Top of the 5 best performances over 5 years of the Mo Ibrahim Index of African Governance

I. BUSINESS ENVIRONMENT Cote d’Ivoire provides new reforms

The creation of a one stop shop for Foreign Trade, to streamline import and export procedures

The obtaining of the Investment agreement in 21 days

The creation of the High Authority of Good Governance

The National Secretariat for Good Governance and Capacity Building

The adoption of a competition law to curb anti-competitive practices

The adoption of a regulatory framework for Public - Private Partnerships

The creation of the Trade Court of Abidjan

An overview of some Doing business major reforms achieved to

date

Starting a business: Creation of CEPICI one-stop shop for all company’s registration;

24 hours company registration’s time

Reduction of registration’s fee through a total exemption on registration tax duty for all

commercial companies:

• As a result: Only 30 $ registration fee for a limited liability company (LLC);

No minimum capital requirement for limited liability companies

Choice given to founders to register a LLC with either private deed company’s articles or

through a Notary.

Registering property Reduction of property transfer tax’s fees from 10 to 4% of the property value

Digitalization of land Registry system resulting in property transfer time’s reduction and

transparency in the process

I. BUSINESS ENVIRONMENT

I. BUSINESS ENVIRONMENT

An overview of some Doing business major reforms achieved to date

Enforcing contracts

Creation of Abidjan specialized Commercial Court since November 2012;

As a result: 56 days on average to adjudicate commercial disputes (average time for

trials and hearings);

Rationalization of judiciary System fees by enacting judicial practitioners (lawyers, bailiffs,

notary etc.) and court’s tariffs and fees.

Protecting Minority Investors

Right given to minority investors to inspect documents pertaining to related party

transactions and to appoint auditors to conduct an inspection of such transactions;

Enactment of greater requirements for disclosure of related-party transactions to the

Board of Directors.

NOUVEAU CODE DES INVESTISSEMENTS PLUS ATTRACTIF More attractive new investment code

Advantages applied without discrimination, either national or foreigner

Activities sectors eligibility:

All the activities sectors, except buildings for non industrial use, commercial and

banking and financial services.

Reduction of the investment level:

Minimum threshold: 400 000 $/ 1 000 000 $

Maximum threshold: 2 000 000 $/ 4 000 000$

SME Minimum threshold: 140 000$

II. INCENTIVE FRAMEWORK FOR INVESTMENT

BENEFITS ON INVESTMENT STEP ( Start phase or Business Development)

Reduction from 40% to 50% in the amount of customs duty payable on equipment and raw materials on the first batch of spare parts

Total exemption from VAT

Duration :Two (2) years with one year extension if 66% if the Investment amount has started

BENEFITS ON INVESTMENT OPERATING LEVEL Exemption from TAX on Industrial and Commercial profit, Business License and permit TAX :100% - before last year:50% - last year:25% - Reduction in the amount of the contribution paid by employer

BENEFITS DURATION RELATED TO ZONE Zone A: District of Abidjan – 5 years Zone B: ≥ 60,000 inhabitants – 8 years Zone C: ≤ 60,000 inhabitants – 15 years

II. INCENTIVE FRAMEWORK FOR INVESTMENT

LES AUTRES CODES SPÉCIFIQUES Other specific codes

The revision of sectorial codes (Electrical Code, Mining Code, Petroleum Code)

The adoption of the new Code of Telecommunications and Information Technology

Environmental Code

Free Zone for biotechnology and ICT (VITIB)

Free Zone (point) for fishery products

II. INCENTIVE FRAMEWORK FOR INVESTMENT

PRESENTATION OF CEPICI

CREATION

• Decree No. 2012-867 of September 6th, 2012

• CEPICI is a National Public Administration

MISSIONS

Be the One-Stop Shop for Investment in Côte d'Ivoire.

Federates, coordinates and streamlines all initiatives and government actions to promote investment and private sector development

TOP MANAGEMENT

Management Board

- Private sector

( 3 members )

- Public sector ( 6 members)

General Management

II. INCENTIVE FRAMEWORK FOR INVESTMENT

The axes of intervention of CEPICI are as follows:

Business Environment

Services for investors

Investment Attraction

Planning, monitoring and evaluation studies of investment

Reception and Communication

Documentary information and archiving

II. INCENTIVE FRAMEWORK FOR INVESTMENT

PRESENTATION OF CEPICI’S ONE STOP SHOP

Starting Business Service 24 Hours

Investment Code Service

Industrial Land Service Information Service

4 OPERATIONAL SERVICES

II. INCENTIVE FRAMEWORK FOR INVESTMENT

1st world Cocoa producer

(1 700 000 t) 1st African

palm oil exporter

(420 000 t)

1st World cashew

producer and 1st

exporter

(700 000 t )

1st African Tuna port

1st African rubber producer

(322 000 t)

4th African pineapple exporter

(52 000 t)

7th African

mango exporter

(47 000 t)

4th African

Cotton exporter

(400 000 t)

6th World Coffee

Producer

(107 000 t)

1st African

producer

(260 000 t)

1st world Producer of Kolas nuts

(35 000 t)

INVESTMENT OPPORTUNITIES IN AGRICULTURE

15

A long railway 1260 Km connects Abidjan to Ouagadougou et Kaya (mines)

7,000 km of roads network.

3 international airports located in Abidjan, Yamoussoukro and Bouaké.

2 international ports : Abidjan and San Pedro

INVESTMENT OPPORTUNITIES IN INFRASTRUCTURE

16

Discovery of new offshore oil fields;

The crude oil reserves estimated at 339 million barrels (2012);

The increase of the storage capacity of gas;

Extension of the distribution network of gas and electricity to

industrial customers in the West African region;

The construction of new pipelines.

Côte d'Ivoire has a large potential for energy production of 6 hydroelectric dams and

4 thermal power plants, with a total power capacity of 1.700 MW;

Currently the energy produced is 37% hydro and 63% thermal and should be

brought to 4000 MW by 2020

Oil reserves are estimated at 339 million barrels, with a current production is 30.000

bbl / day (2015) and a goal of 200,000 bbl/day in 2018

Gas reserves are estimated at 35 billion cubic feet (2015) and current production is

around 1,9 billion cubic feet per year;

Côte d'Ivoire produces enough stainable energy for its own consumption and feed the

neighboring countries in electricity and gas.

INVESTMENT OPPORTUNITIES IN OIL AND ENERGY

17

A RICH AND DIVERSE

MINING POTENTIAL

GOLD

OIL -

GAS

IRON ORE

DIAMOND

COPPER

URANIUM

(2/4)

The country alone contains 35% of areas in West Africa conducive to the discovery of gold deposits . The Ivorian underground contains gold , diamond, iron, nickel , manganese , bauxite , copper and colombo-tantalite. Mining Contributes more than 1% to the GDP 18

THANKS YOU! www.cepici.gouv.ci

Côte d'Ivoire remains a country with :

• a high potential and investment opportunities,

• an important social and economic infrastructure,

• a business climate in constant improvement.

CONCLUSION

We invite you to contact the Cote d’Ivoire

Investment Promotion Agency (CEPICI)

for your business.