A welcome to investors

TUNISIA’S parliament approved on Saturday a long delayed law to attract foreign investment, which fell sharply after the uprising in 2011, in a key reform demanded by international lenders. Initially expected for approval in 2012, the law was held back by party political conflicts and the change of governments during Tunisia’s often turbulent transition to democracy after the ouster of Zine El Abidine Ben Ali. The new law gives foreign investors more flexibility to transfer funds, including profits, out of the country, and removes tax on profits of major projects for 10 years. It also establishes a fund for investment which will help finance infrastructure projects and funding to spur investors to launch big projects in marginalised areas of the country. – Reuters

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