The Investment Code identifies twenty priority areas in which certain advantages, such as duty or tax incentives, can be provided to investors. Establishing enterprises outside of Nouakchott and Nouadhibou can result in a temporary reduction of the tax due on industrial and commercial profits. Although the GIRM has significantly reduced barriers to investment since 1989, the regulations remain vague and somewhat confusing. Therefore, under World Bank supervision, a revised Investment Code will be published in the near future. The Mauritanian Ouguiya is convertible within Mauritania.
Foreign exchange is available in commercial banks and exchange offices.
Liberalization of the exchange system has facilitated the repatriation of dividends by foreign investors and payments to foreign suppliers of goods and services. These transactions still require supporting documents and prior Central Bank approval. There are no legal or policy restrictions on transferring funds associated with an investment. Any individual or legal entity which has invested joint or foreign capital is officially assured of the free transfer of convertible currencies. The Investment Code states that in case of expropriation, nationalization or requisition of private property, the GIRM should provide appropriate compensation, to be determined according to common practice and international law.