GOVERMENT POLICY

The government realizes that economic development of the country highly depends on its ability to attract technology and capital that will generate direct and indirect employment and exports needed for growth.

In order to enhance and attract greater investment, the investment code offers a number of incentives under three distinct categories:

• Investment promotion
• Export promotion
• Research and professional training promotion

Guarantees protection of investment:

• Non-discriminatory treatment for all projects (national and foreign societies or public and private societies)
• Guarantee against nationalization and confiscation
• Labor and management freedom
• Guarantee for the transfer of profits and capital
• Investors can benefit from guarantees granted by the terms of the convention that the multilateral Agency for Investment Guarantee (MIGA) creates, and other treats to which Guinea-Bissau is a signatory.

By investing in an important field of business for development of Guinea-Bissau, the companies can benefit some tax reduction of 50% for the 6 years.

Business investment, oriented in exportation, gets back from the government 10% of total value of goods exported in a business year, for 6 years. Also business increasing national production of goods to reduce the importation of such goods from abroad is beneficiary of the same percentage for the mentioned 6 years.

Business investing in know-how and human resources; business protecting the environment and business investment in infrastructure in other small cities (not in the capital) of Guinea-Bissau are investment in important fields for the development of Guinea-Bissau.

There are state agency DPIP and financial institution FUNDEI to support private investments.

DPIP objectives are:

• Full streamlining of bureaucratic procedures regarding the setting-up and granting of licenses for firms through the implementation of its one-stop shop
• Provide potential investors with quality information through its information and communication service, in parallel with the research and promotion service
• To draw funding
• To sponsor other incentives

FUNDEI (Guinean Foundation For Industrial Entrepreneurship Development) is open to all national citizens and those originating from countries that are partners of Guinea-Bissau in the context of its political and economic international relations.

FUNDEI activities are:

• Promotes and Funds Investment Projects
• Supports dissemination of technology
• Promotes training actions
• Technical assistance to promoters