2023-11-27 10:20:54
The Investment and Export Promotion Agency (APIEx) organized this Thursday, November 23, the 8th edition of “Investor Thursdays” at Golden Tulip le Diplomate in Cotonou. On this occasion, three companies established in the Glo-Djigbé Zè Economic Zone (GDIZ) as well as the specific provisions and measures of the 2024 finance and management bill for the benefit of companies and investors were presented to the participants.
Falco VIGNON
Before the presentation of the companies, the CEO of APIEX, Laurent Gangbès welcomed the companies and recalled that the objective of “Investor Thursdays” is to make visible what each wealth creator does. Thus, will follow the presentation of the company Krishi Agri Benin PVT LTD, which is an industry of the Shrihari Nutrition PVT India (SNPL) group with two decades of experiences in secondary agriculture related to proteins and fats in Indian and Asians. The project concerns the installation in the Glo-Djigbé Zè Economic Zone (GDIZ) of a cottonseed oil and oilcake production plant with a capacity of 50,000 in phases 1 and 2. The total cost of the investment is 30 million Dollars. The selling market is: India, Bangladesh and West African countries. The number of jobs created is 80 to 90. The activities of this company start at the end of January 2024.
The second company is: FHC MEDICA. It is a pharmaceutical industry run by Dahra Dushynat. It started its operations in India and covers 17 countries with more than 300 registered products. The company’s investment project involves the installation in the GDIZ of a pharmaceutical product manufacturing unit with a capacity of 1,500,000 tablets per day and 240,000 capsules per day. The investment cost is 1 billion USD. These are anapestic products, antacids, antidiabetics, antibiotics, antimalarials, drugs against cardiovascular conditions, generics, nutraceutical supplements, oral contraceptives. The market is West Africa and Central Africa. The number of jobs created is 700. Activities will start in December 2024.
The third company is Benin Cashew. Created in May 2023, Benin Cashew is the result of an investment partnership between the Arise Group and the Caisse de dépôt et consignation du Bénin (CDCB) for the installation in the GDIZ of 5 raw cashew nut processing units with a capacity of 350 thousand tonnes per day and a cashew shell valorization unit. The total investment cost of the project is USD 700 million. The products are cashew kernels, shell oil, charcoal briquettes. The market is North America, European Union, Asia and Middle East, South Africa under the KAJU AFRICA brand. The number of jobs created is 2,500 direct and indirect.
Specific measures of the 2024 finance bill for the benefit of businesses and investors
It was the Director General of Taxes, Nicolas, Yènoussi who presented to the participants the specific measures of the 2024 finance and management bill for the benefit of businesses and investors. In his presentation, the head of the tax administration indicated that there are no new measures in the finance law, management 2024. Among the key measures contained in the law, the Tax Director mentioned registration fees which are reduced by half for markets worth more than 20 billion FCFA. Exemption from late payment penalties for taxpayers in the informal sector who spontaneously regularize their previous declarations, the use of advance tax credits based on profits (AIB) for the payment of tax on profits and its advance payments, exemption from customs duties and taxes and VAT on containers for compressed or liquefied gases, made of cast iron, iron or steel and accessories (burners, pot supports for 3 and 6 kg bottles, pipes, fittings, regulators , gas stoves without oven and regulator valve) for domestic gas, imported, manufactured or sold in the Republic of Benin, are some of the measures mentioned.
As for vehicles, the DG of Taxes specified that trucks (coupled tractors and trailers), coaches, minibuses and passenger cars, those imported, manufactured or sold in new condition in the Republic of Benin, benefit from also an exemption from customs duties and taxes as well as VAT. This is probably aimed at boosting the transport sector and facilitating access to modern and efficient means of transport for businesses. These exemptions aim to encourage investment and economic development by facilitating the acquisition of equipment, materials and vehicles necessary for the expansion of businesses, particularly for small and medium-sized businesses, in order to strengthen their competitiveness on the market. walk. It is in this wake that also comes the exemption from customs duties and taxes and Value Added Tax (VAT) on aircraft and aerostats as well as spare parts in the Republic of Benin maintained for this budgetary year. In the land sector, the exemption from late payment penalties granted to taxpayers responsible for the single property tax who wish to pay their dues in full. All measures aim to improve the business climate and investment in Benin, concluded the Tax Directorate, Nicolas Yènoussi.
QA November 27, 2023
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