Investment Policy Review: Sierra Leone
Since the end of the civil war in 2002, the Government has made significant progress towards achieving peace and stability through an ambitious reform program with a view to benefiting from this untapped potential; attraction of foreign direct investment (FDI) has become a central element of the national development strategy. In spite of the progress achieved, the country continues to bear the impact of the war, with weak economic performance, human capital shortages, deficient infrastructure network and poor image. Mindful of the fact that the experience of post-conflict countries shows that the hard-found peace is often fragile, concrete policies are required to generate employment and improve living conditions. In this regard, this review takes note of the open and favorable FDI regulatory regime and of the guarantee against expropriation. The review stresses however that the government policy should target the negotiations of a more comprehensive bilateral investment treaty and double taxation treaty network to boost the country's FDI attractiveness. It outlines the elements of a strategy to stimulate investment while urging the international community to continue supporting the peace and economic reform processes in Sierra Leone: 1. tackling infrastructure deficiencies; 2. building human capital; 3. establishing a competitive and effective fiscal regime; 4. facilitating business and trade; 5. promoting and facilitating FDI; and 6. targeting investment in selected sectors.--Publisher's description.
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