A new Investment Code is in force since 1 January 2009. This Code is the result of a revamp of the 2003 business regulatory framework aimed at improving existing business law and promoting investment and private sector. The Code is applicable to both foreign and domestic investors.
One of the major advances consists in the fact that all investments are now subject to common law procedures, guarantee conditions and advantages of the general scheme instead of the complex old system which provided four licensing regimes
The new code also provides more guarantees to foreign investors in particular with respect to expropriation, the guarantee of transfer of capital and access to international arbitration.
Grants to investor guarantees and advantages of the General Scheme (freedom of establishment of capital guaranteed property to any person without any discrimination, free transfer of foreign capital and revenues