اقرأ ايضاً في الأخبار
أخبار
Parliament Reviews the Draft of Law of Investment, and Shiban Calls to Engage the Investors in the Discussions
In today's session, Parliament reviewed the report of the draft of law of the investment. The report is submitted by joint committees that consist of the Finance Committee, Commerce and Industry Committee, and Oil and Minerals Committee. In the presence of the president of the General Investment Authority Mr. Salah Ala'attar, Parliament discussed the draft that is alternative to the law No (22) for the year 2002. This draft aims at creating an attractive investment environment the way that copes with the international economic changes and addressing the shortcomings of the previous law. For instance, adding more guarantees for the investment projects and to encourage the foreign investment in addition to reform the system of tax and customs incentives by removing this system from the new law and adding it to the related law.
The draft consists of (35) articles in (6) chapters. The first chapter explains the preliminary provisions and the second chapter is about the investment sector. The guarantees and advantages are mentioned in the third chapter while the fourth is about the Investment Authority. Resolution of investment disputes is in the fifth chapter, and the last chapter includes general and final provisions.
MP Abdulkareem Shiban called to send back the draft of law to the joint committees in purpose of engaging the investors in the discussion. He commented on the paragraph (b) of the Eighth article which is about expropriating the projects for the public benefit by the government describing it as returning to the policy of Nationalization law. He called to remove this paragraph from the law. MP Ali Ala'amarani suggests removing the statement of "The authority establishes offices outside the republic" from the draft because this is the one of the embassies' responsibility.
It is expected that Parliament will finished the other articles of this draft of law the next days.
