Publication of the Investment Policy Review in the West African Economic and Monetary Union01 Feb 2024
Conducted at the request of the West African Economic and Monetary Union (WAEMU) Commission, this IPR involved the member States of the Union, which includes Benin, Burkina Faso, Côte d’Ivoire, Guinea-Bissau, Mali, Niger, Senegal and Togo.
Despite the succession of crisis at the regional and international level, these countries have seen increasing economic growth in the last years. However, to overcome development challenges, including in terms of education, infrastructure and food security, high levels of investment are required as highlighted in national and regional development plans, and in the reform agendas adopted throughout the region. Nevertheless, while foreign direct investment (FDI) has increased over the last decade, it remains below comparators and concentrated in few WAEMU member States.
In this context, the Investment Policy Review (IPR) in WAEMU aims to support and strengthen the impact of the reforms underway. It analyzes the policy, legal and institutional framework for investment, at the national and international levels, as well as other operational areas of particular importance to investors, namely business establishment, taxation, labour, and competition. It also provides action-oriented and concrete recommendations based on UNCTAD’s Investment Policy Framework for Sustainable Development. The IPR also suggests a regional approach to investment promotion with a view to complement the current national efforts while mutualizing resources and building capacities.