Overview

The Government of Benin (GOB) encourages foreign investment. The Presidential Investment Council (PIC) was established in 2006 to reinforce dialogue between the Government and investors and to hasten the implementation of reforms that improve Benin's business environment. The PIC works to reduce, and where possible, eliminate administrative barriers to doing business. The PIC's campaign to better Benin's World Bank "Ease of Doing Business" ranking for 2015 resulted in an improved ranking to 151 from 167 out of 189 economies. The PIC highlighted measures enacted in 2014 that aimed to reduce barriers to trade, including streamlined business start-up procedures; improved customs tracking and clearance procedures; improved processes for acquisition of construction permits; an instituted ban on illegal road checkpoints; and improved commercial access to credit services and utilities. The WB score placed Benin among the ten top most improved economies (according to these measures) in 2013/14.