Investment Environment of Benin

Dear Member,
In the letter sent to our Chamber by TOBB, with reference to the letter of the Ministry of Trade dated 22.12.2023 and numbered E-68460249-041.02-00092204054, it is reported that documents titled "Improving the Business Climate in Benin" and "Tax Measures and Customs Regulations for Investment", containing useful information on Benin's investment environment and investment incentives, were obtained from the Investment and Export Promotion Agency (Apiex) attached to the Presidency and sent, and in addition, that public tenders in the country can be followed on the website "https://www.marches-publics.bj/".

Another document sent, "Tax Measures and Customs Regulations", provides information that, within the scope of the "Investment Code and Special Economic Zone Law", support is provided such as exemption from import customs duties during the investment period and exemption from corporate, income and professional taxes for periods ranging from 5 to 17 years during the operating period; in addition, the 2021-2026 Government Action Programme (PAG 2021-2026), sent as a third document, states that higher-tier incentives are applied to investments in the agro-industry, agriculture, electrical energy and digital sectors. Accordingly, it is stated that in the PAG (2021-2026), which comprises 87 reforms and 201 projects with a total cost of 12,111 billion West African Francs (F CFA) (approximately 18.5 billion Euros), planned to be financed through public resources and public-private partnerships in order to accelerate the economic and social development of Benin, 55% of the amount is accounted for by the infrastructure, energy, digital, agriculture, tourism and industry sectors. It is stated that details of road,
airport and power plant construction, port expansion and some specific projects in the areas summarised above can be found in the "Main Projects" section of the said document.

In addition, it is stated that Benin, which shares common borders with Nigeria, Burkina Faso, Niger and Togo, is an important trade and tourism centre owing to its geographical location at the intersection of the Abidjan-Lagos and Cotonou-Niamey regional corridors, that export-oriented industrial investments, particularly in textiles and agro-industry, are increasing, and that in this context it is important for the country to be followed by our investor, exporter, contracting and technical consultancy companies.

Annex: Investment Environment of Benin

Kind regards,
Elazığ Chamber of Commerce and Industry