Following plenary debates, the National Assembly approved the new Investment Code, which aims to strengthen economic attractiveness and secure investor commitments in Senegal, on Thursday, September 18. "Out of 133 voters, 123 voted in favor, 8 against, and 2 abstentions," said the President of the National Assembly, El Malick Ndiaye.

In fact, this new law will allow the expansion of the sectors of activity eligible for the code, the digitalization of procedures related to the granting of the advantages provided for by this code, the redefinition of the investor and investment protection regime, to make it clearer and more efficient, the integration of services to facilitate access to land for potential investors, the promotion of investments in areas of the interior of the country in accordance with the policy of territorialization of investment, the strengthening of non-tax incentives and access to facilities for investors registered with the body responsible for investment promotion, the strengthening of the role of the body responsible for investment promotion in facilitating procedures.

The management of grievances and the prevention of conflicts between investors and public administrations, the revision of the eligibility thresholds for the ordinary tax regime, in order to allow the inclusion of small or even very small businesses within the scope of the code, the establishment of exceptional tax and customs regimes which can be supplemented by special incentive regimes for investments meeting certain criteria, as well as the promotion of local content, responsible investment and sustainable development are also among the innovations.