Burundi president Evariste Ndayhsimiye this Tuesday September 27th officially kicked off the business summit between Burundi and Nigeria in Bujumbura in efforts to strengthen the bilateral cooperation between the two countries through investment in the private sector and trade promotion.
“This Burundi and Nigeria Business summit calls for ambitious commitments to break the current state of affairs with a goal to develop a strong and sustainable investment partnership between African countries,” said president Evariste Ndayishimiye during the official opening Ceremony of the summit in Bujumbura.
President Ndayishimiye assured that Burundi has created favorable conditions for business thanks to the Investment code of the country.
According to article 1 (5) of the Burundi Investment code, “free trade zone regime, specific legal status granted to certain enterprises established in Burundi under the conditions provided by this law and the ministerial decrees, on the basis of which they automatically benefit from a set of tax and customs exemptions as well as certain incentives related to labor, exchange control and immigration legislation.”
The same Investment code in its article 4 indicates that Burundi provides to investments made on its territory for the creation, the expansion, the reorientation or the rehabilitation of an enterprise, guarantees and inducements of the general regime as well as guarantees and inducements of the free trade zone regime.
“The provisions of this code do not prohibit larger guarantees and inducements which could be provided for by agreements or treaties between the Republic of Burundi and other states,” article 5 of the investment code reads.
The Legatum Prosperity index shows that since 2021 Burundi has moved up in the ranking table by 2 places, the country is now at 157th in the overall Prosperity Index rankings.