In a working committee yesterday, the Minister of Finance and Budget, Cheikh Diba, presented draft law No. 16/2025 on the Investment Code "intended to modernize the business environment, facilitate access to land, digitalize procedures and attract more investors."

Explaining his reasons, he said that private investment is a key factor in the dynamics of a country's economic and social development. In addition, it is therefore important that private investors not only have good visibility, but also ensure that a mechanism is in place to reduce the real or potential risks they may or could face.

The authority maintains that "these major concerns" call for deep reforms to support and accompany the efforts to grow the national economy, in a stable legal and regulatory environment.

It informs the reform of the Investment Code offers the opportunity to address concerns likely to harm the business environment, including, among others, the lack of monitoring of the implementation of approved investments, the difficulties of implementing an effective incentive system, the complexity and cumbersome administrative procedures, constraints linked to access to land and the failure to address the specificity of certain particular investments.

These flagship innovations, according to Cheikh Diba

The minister thus declared that the present bill introduces an investment framework reconfigured as a modern instrument adapted to current and future economic challenges, in alignment with Vision Senegal 2050.

Listing the innovations of this bill on the Investment Code, he cited the expansion of the sectors of activity eligible for the code, the digitalization of procedures related to the granting of benefits 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 the interior areas 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, managing grievances and preventing conflicts between investors and public administrations.

In addition, there is the revision of the eligibility thresholds for the ordinary tax regime, in order to allow the inclusion of small and 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.

This bill, which will be put to a vote shortly, has as its strategic objective a national policy which, according to the minister, takes charge of the development of the national private sector, the promotion of private investment in priority sectors, the promotion of very small and small and medium-sized enterprises, the creation of new businesses and the development of existing businesses, the creation of jobs and the reduction of territorial disparities in terms of investment, the attraction of sustainable foreign direct investments and the transfer of technologies and skills.