Private investment is the mainspring to economic growth in Tunisia. It isa fundamental cornerstone in the development strategy that would help thecountry   respond   to   its   major   challenges,   mainly   in   wealth   creation,unemployment reduction and inland regions development.
Law n°2016-71 repealed the 1993 Investments code and enabled the abolitionof the requirement for the higher investment commission approval, when theforeign equityexceeds 50% of the capital for 46 activities et services otherthan fully exporting among the 49 activities listed in Decree n° 492-1994.

In May 2018, the Implementation of Government Decree n° 2018-417 of 11May 2018, on the publication of the exclusive list of economic activitiessubject to authorisation and the list of administrative authorisations forthe implementation of projects, the relating provisions and theirsimplification.

This Decree provided four appendices :

• Appendix n°1 sets out an exclusive and detailed list of 100economic activities subject to authorisation.
• Appendix n°2 sets out a list of 27 economic activities for theexercise which the authorisations required were either repealed orreplaced by specifications.
• Appendix n°3 sets out a list of 143 administrative authorisationsfor the implementation of a project.
• Appendix n°4 sets out a list of authorisations for which theadministration’s kept silence/lack of reply is not deemed anauthorisation approval.

A Law on the improvement of the investment climate was adopted in May2019 (Law n° 2019-47 of 29 May 2019).

Article 2 of this Law requires public bodies to abide, in their relations withinvestors, by the principles of transparency, of procedures simplification, ofdeadlines reduction and of use of modern communication means. These Publicbodies should not require the investors to provide documents that they aresupposed to deliver or that they already have.

Article 15 (bis) of Law n° 2019-47 of 29 May 2019 created within theTunisian Investment Authority, a new commission which is the Commissionfor authorisations and approvals, composed by representatives of theministries and the relevant public bodies.

This commission is in charge of facilitating the implementation of investmentsby the Tunisian Investment Authority according to the laws in force, with theaim of :

• To rule on all applications for approvals and authorisations required forthe realisation of the investment.
• To rule on applications to change the use of agricultural land,notwithstanding any provisions to the contrary, and in particular Law n°83-87 of 11 November 1983 on the protection of agricultural land.