Recovery of attractiveness rankings

Description

The objective of the “Restoration of attractiveness rankings” reform is to make the business environment a competitive advantage for Senegal, in order to attract more Foreign Direct Investment (FDI) on the one hand and to create, on the other hand, a competitiveness shock to make Senegal one of the 50 most attractive countries for investment in the world.

Through PREAC (Business Environment and Competitiveness Reform Program), Senegal plans to attract more investments.

The first phase of PREAC carried out in the period 2013-2015 brought very significant improvements in the rapid conduct of reforms in Senegal. Delays and costs for issuing administrative acts have been reduced in the areas of business creation, transfer of property, granting of building permits, commercial justice, payment of taxes, access to electricity, access to credit and cross-border trade, in addition to improving the quality of administration services.

Following this first phase which focused particularly on theefficiency of public service particularly on the execution of procedures, the second phase 2016-2018 focused on efficiency by reducing costs through the simplification of port pricing and tax systems, the rationalization of certain direct costs linked to activity of the company and the speed of commercial justice procedures.