Investment law approved
17 Sep 2016
The new Investment Law was approved by the Parliament on 17 September 2016. It gives foreign investors more flexibility to transfer funds, including profits, out of the country, and removes tax on profits of major projects for 10 years. It also establishes a fund for investment which will help finance infrastructure projects and funding to spur investors to launch big projects in marginalized areas of the country. Further, it creates a High Investment Authority which will be the only party authorized to deal with foreign investors and facilitate the administrative procedures in an effort to reduce the bureaucracy which faced projects in the past.
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Type:
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Treatment and operation (Capital transfer and FOREX)
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Promotion and facilitation (Investment facilitation , Investment incentives)
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Industry:
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