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Council of Ministers approves draft bill on investment

 

ALGIERS- Council of Ministers on Monday approved a draft bill on investment improving "attraction of legislation on investment" in favour of foreign investors.

The draft bill initiates "new facilitations, mainly for foreign investment and partnerships," according to the statement issued at the end of the Council of Ministers meeting.

The draft bill repeals the requirement of surplus balance sheet on foreign currency for foreign investors in order to encourage partnerships to reduce imports.

It also abrogates the clause subjecting foreign investments achieved before 2009 to the 51/49% rule in the case of a change in the trade register.

The requirement of local financial contribution in foreign investments is also abrogated in the draft bill.

The draft bill relaxes State's pre-emptive right, in the case of a transfer abroad, by an investor, of his actions in a project localized in Algeria.

APS Tuesday, 06 October 2015

 

 

 

 

 

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